Regulation Not the Answer on IoT Security, US Chamber Says

The U.S. Chamber of Commerce released a report Tuesday on “The IoT Revolution and Our Digital Security,” counseling against regulation. “When it comes to security, attempts to regulate today will become outdated tomorrow,” said the first of 10 principles. “Flexible approaches to collaboration and cooperation to combat shared threats have significant advantages over national regulation which serves to fragment the global economy and lags behind technological innovation.” The Chamber said the issues raised will only grow in importance. “Recent high-profile cyberattacks underscore the importance for public-private collaboration to create policies that enhance privacy, security, and trust in the IoT,” said Ann Beauchesne, senior vice president-national security and emergency preparedness. The best approach to IoT security is “data-driven, based on empirical evidence of a specific harm, and [will] be adaptable both over time and cross-border,” the Chamber said. “Security demands should never be used as industrial policy to advance protectionism or favor national economic interests.” The report was written in partnership with Wiley Rein.