Does this actually have any impact on Space? In other words, FCC can regulate what American companies have to do, but Papua New Guinea would come out and launch 50k satellites tomorrow, and it would be out of FCC control.

If that's the case, then space junk removal is just a financial obstacle that will make it more prohibitive to launch new sats, and cause the business to move to other counties.

If anyone knows the specifics of how this would work, could you enlighten? Thanks!