Regulation of Corporate Activity in the Space Sector

Abstract

This article argues that commercialisation of space coupled with technological innovation call for a regulatory approach beyond (and complementary to) the treaty regime offered by international law. The rapid technological advances in the financial sector and corresponding regulatory innovations make fintech regulation a likely candidate to draw lessons from for the nascent New Space sector. The article draws from the financial technology (fintech) sector and proposes that some lessons about initial regulation via sandboxes and sandbox bridges are useful in the space sector. At the domestic level the article proposes regulatory sandboxes to enable innovation while ensuring the necessary safeguards; and at the multi-national level, it proposes cooperation between regulators in various space-faring nations along the lines of sandbox bridges used in the fintech sector. Since different states have varying levels of space sector activity, this article makes broad recommendations with pointers that identify aspects that are more suitable to certain types of jurisdictions than others. Show more