I did find that until very recently, spectrum rights were non-transferable. And they are still single use; a central planning commission decides which parts of

I did find that until very recently, spectrum rights were non-transferable. And they are still single use; a central planning commission decides which parts of the spectrum will be used for which purposes, and the owners of the spectrum aren't allowed to deviate from this. The central planning commission has a long history of snubbing new uses of the spectrum in response to lobbying from existing companies (ex. TV companies used the FCC to torment FM radio startups in the 40s, pushing back its adoption).