Only bitcoin eclipses the amount of regulatory uncertainty that surrounds satellites in the US. There are clear international law reasons that the US government approval is required for launch, but there is absolutely no statute that gives the FCC authority to deny the launch on the grounds that they did -- it's a regulatory power grab on that agency's part, trying to assert regulatory authority they were never granted. The FCC rejected the launch on the basis of tracking ability, which is something that FCC doesn't do and doesn't have any insight into assessing. If it was spectrum or comms, my assessment would have been different. However right now the satellite regulations are really in flux due to the rise of commercial space and uncertainty about space force reorganizations, etc.
FCC asserting authority over orbital trajectories (vs. say, the FAA or US Space Command who HAVE been the point of contact on those issues for decades of military and NASA space launches) is an inter-agency regulatory power grab. FCC has handled domestic issues regarding geosynchronous satellites, because those are nearly all communications related. Now they're trying to unilaterally extend that to ALL Earth-orbital trajectories.
What do you do when your local Parks & Rec department sends you a letter rejecting your claim of special tax status on your import/export business? That's basically what happened here.