The IP age of networks and services is increasing very quickly. Starting from its VoIP, NGN, and IMS to today's IP services landscape, which includes fixed and mobile high-definition (HD) voice, HD video calling, unified communications (UC), video conferencing, and telepresence, cooperation, instant messaging (IM), and the rich communication suite (RCS). Convergence is one of the most significant current trends in the ICT sector. It has changed the way services are delivered and obscured the distinction between fixed and mobile services. The transition to Next-Generation Networks (NGN) is the most important next phase in the ICT sector's convergence-driven evolution. In the realms of NGN, VoIP, and IMS, there is no PSTN equivalent; instead, there are "IP islands " that locate the total value of an IP service. The next basic step is to expand the arrive of those services across a totally interconnected cross-network premise in order to maximize their overall esteem among their target audiences. The liberalization of infrastructure services depends on managing the interconnection interface between the competitive and regulated sectors. These paper outlines regulation issues raised by IP-based interconnection and examine the current practices and procedural ways that being developed to address these concerns.