The number of users accessing the Internet via mobile devices and mobile broadband is increasing rapidly. Keenly aware of the considerable economic and social effects of mobile broadband many countries are searching for policies that can boost their benefits for society. Designing such a framework is complicated by the dynamic technological change and pervasive interdependencies among players in the advanced mobile communication system. Established regulatory theory and practice may not provide reliable guidance because they are rooted in assumptions and conventions that do not appropriately reflect these new technological and economic conditions. Moreover, how government and non-government forms of coordination (“governance”) affect outcomes is complicated by the existence of non-linear direct and indirect effects whose net impact on performance is not well understood. This article explores these challenges conceptually and outlines a roadmap for rethinking the governance of mobile broadband.