FTC and FCC - a general explanation
FTC - Federal Trade Commission - tasked with regulating commerce between the 50 states, various territories and, to a lesser extent, between the states/territories and foreign interests doing business here.
FCC - Federal Communications Commission - tasked with regulating electronic communication and the transmission/reception/interactions thereof.
The grey area and subsequent confusion over which (if either) should do what is caused by the fact that the internet is simultaneously a medium of communication AND of commerce.
The FTC, or at least the principle behind it, is significantly older because regulation of trade is one of the cornerstones of Federal power in the US Constitution (Article 1, Section 8). However, the FCC also has a valid point because the electronic communication capabilities of the internet allow users to conduct commerce in ways and with trading partners previously unavailable by other means.
It is my opinion that NEITHER should have anything even remotely close to "full" control over the internet, but each should probably have SOME control over certain things that happen within the borders of USA. That is their chartered responsibility. It is the responsibility of Congress (and those of us who supposedly elect them) to ensure that the FCC, FTC, and other Federal agencies do not EXCEED their charters and are appropriately smacked down when such excess is attempted.