DIY Space Photography
Four Spanish teenagers sent a camera-operated weather balloon into the stratosphere. The boys built the electronic sensor components from scratch. Gerard Marull Paretas, Sergi Saballs Vila, Marta Gasull Morcillo and Jaume Puigmiquel Casamort attached a £56 camera to a heavy duty £43 latex balloon, and sent their science project 20-miles above the Earth. Team leader Gerard Marull, 18, said, "We were overwhelmed at our results, especially the photographs, to send our handmade craft to the edge of space is incredible."
A guy in our local Astronomy club researched this and gave a presentation on the requirements a year ago. As I recall, the FAA requirements were that the balloon launch site not be within X miles of an airport, that it must reflect RADAR (accomplished by dangling cardboard covered with aluminum foil), and that the cord used to tie the instrument package to the balloon must break easily. (Can't remember the spec, but it's something like 10 pound test line.) Part of the trick is calibrating the lift rate before launch so the balloon rises at an appropriate rate. Too slow, and the balloon will break too low in the atmosphere. Too fast, and it won't break close enough to the launch site to recover the payload. What's cool is you can have the package use a GPS to transmit data on altitude and position, and a thermometer to give readings at altitude. The temperature gets down to -50C, so the instruments must be in a styrofoam box to survive.
In the US one can notify the FAA of such events and they will release a Notice to Airmen (NOTAM) that will let them know the craft is in the area, with a description and advice. They require 24 hours notice. Every pilot in the US checks for NOTAMs along their designated flight plan and adjust accordingly. This is standard procedure before any takeoff and taught at the most basic level by flight schools before you ever leave the ground.
If you do launch _any_ craft into the air in the US it will fall under some sort of regulation that you should follow. In this case it's most likely part 101 Around the world governments have similar regulations in place.
My point? This has been done before and done right, safe procedures are in place.