US Federal Trade Commission cautious about regulating IoT

Speaking at a cybersecurity conference, Maureen Ohlhausen, acting chair of the US Federal Trade Commission (FTC) said that that the agency has not yet taken a position on whether there should be mandatory regulations for the Internet of Things (IoT), rather than self-regulation and standardisation from industry groups. In the light of massive cyber attacks involving IoT devices, several experts have asked for governmental regulation in the field of IoT security. Ohlhausen said that, if there is potential harm to consumers in a new technology, the FTC should not act until that harm manifests: ‘We don’t know if that risk will materialize. It may well materialize, but a solution may materialize at the same time.’