At this point, it’s the same as RF spectrum. Yet clearly there is no regulatory body to manage it.
https://www.icann.org/resources/pages/allocation-ipv4-rirs-2...
https://afrinic.net/policy/manual
https://www.arin.net/participate/policy/nrpm/
https://www.apnic.net/community/policy/
While the auction receipts go into the public coffers, it’s not like we get annual cheques.