https://commonslibrary.parliament.uk/research-briefings/cbp-...
The consequences for the .IO ccTLD are still unclear and ultimately will depend on how the United Nations, the ISO 3166 Maintenance Agency, and ICANN respond. I’m not aware of anything more definitive than ICANN’s blog posting from November 2024, which emphasizes that “much of the discussion about .io is simply speculation” but also acknowledges the possibility that “a five-year time window will commence during which time usage of the domain will need to be phased out.”
https://www.icann.org/en/blogs/details/the-chagos-archipelag...
I wouldn’t use a .IO domain name for anything important.