>The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.

If the Federal government chooses not to regulate it, then the states should be allowed to do so.

Edit: Here the FCC is choosing to not regulate Telecoms as "Common Carriers", so would not the states then be allowed to do so, barring other federal agencies that may be able to regulate "Common Carriers" (ala the FTC)? Honest question.