This article explores the legislative priorities of Internet regulation. As being the most popular source of mass information, the Internet generates serious problems as a result of existence of the latter. One of them is a lack of precise legislative regulation relating to transferring information. This enlarges opportunities for providing this information and simultaneously facilitates a degeneration of media ethics. Different efforts undertaken by the world community have so far not produced tangible results. The author investigates certain initiatives promoted in the 2000s and analyses the reasons for their low effectiveness. The question - to what extent the Internet can serve as a source of reliable information - is put on the agenda.