This is absolutely true, ICANN said “Yes” to UNICODE DNS domains.

It’s hard to judge, on one hand we got a more international ” world wide web” :

Let’s face it; millions of Internet users speak languages that aren’t written using Roman characters. Allowing Web sites to have domains that use other characters will make Web addresses more recognizable to some and make the Web more accessible to millions of new users.
The transition will begin on November 16 when countries can apply for country codes in their own unique character sets.
“The first countries that participate will not only be providing valuable information of the operation of IDNs in the domain name system, they are also going to help to bring the first of billions more people online — people who never use Roman characters in their daily lives,” ICANN CEO and President Rod Beckstrom said in a statement.

But on the other hand we have some obvious security problems:

Expanding beyond Roman characters also increases potential for site rip-offs that use homoglyphs, characters with identical or indistinguishable shapes. This already occurs to some degree (for instance pointing your browser to takes you to a different site than but different languages might have characters that are identical to characters in other languages.

If you’re interested follow the google thread here, and some more reading about that here, here and here.

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