Drone registration begins on Monday

One of the year's hottest holiday gifts will now be facing some government regulation.

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Starting on Monday, individuals who own recreational drones will have to register their devices with the Federal Aviation Administration. The mandatory registration program applies to drones that weigh between 0.55 and 55 pounds.

"I would agree it's a first step and a needed first step, given the reported increase in the number of airspace violations and incidents involving unmanned aircrafts, but this is an industry that has grown very dramatically and much faster than anybody ever anticipated," Barry Valentine, the former FAA acting administrator, told CNBC's "Squawk on the Street."

Drones purchased before Monday must be registered by Feb. 19, 2016, while drones bought later should be registered before pilots take their first flight outdoors.

If operators are caught using their drones without registration, they could face fines of up to $27,500.

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However, some aviation experts doubt the new rule will improve safety by making people more accountable for their unmanned aircraft.

Registration costs $5, but the fee will be waived for 30 days after the law goes into effect, through Jan. 20.

For more information on how to register drones, read the full instructions here.

— CNBC's Fred Imbert contributed to this report.