Space Traffic Management (STM) is becoming increasingly important as new space activities emerge, such as mega-constellations, on-orbit servicing etc. These developments, although promising great advances, nevertheless present complicated issues that demand stringent technical constraints. Effective STM necessitates extensive rules to ensure the safety, sustainability, and orderly execution of space operations. This research emphasizes the critical need for updated technical regulations that address the operational complexities involved with these new activities. It seeks to build a secure and collaborative space environment by establishing detailed legislative frameworks and emphasizing international cooperation, so ensuring the long-term profitability and success of space exploration and usage. Through meticulous analysis, the paper identifies regulatory gaps and proposes a robust framework capable of accommodating the evolving landscape of regulations. Drawing upon humanity's collective experience across different domains, the proposed framework aims to foster responsible growth in outer space while safeguarding its integrity for future generations. This paper examines the existing regulatory framework applicable to four distinct categories of New Technologies and Activities in space; identifies gaps where they exist; and suggests a capable and robust regulatory framework. This framework leverages humankind's experience in other domains to nurture and assist responsible growth in the outer space domain while ensuring proper stewardship of that domain, now and in the future. This paper is based on the report prepared by members of working group 4.2 of the Space Traffic Management Committee (TC 26).
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