Confronting the dangers posed by the Internet of Things – as demonstrated by the Oct. 21 Mirai DDoS attack – members of the House of Representatives’ Energy and Commerce Committee held a hearing on Wednesday that examined the feasibility of regulating IoT devices.
Speaking before the Subcommittee on Communications and Technology and the Subcommittee on Commerce, Manufacturing, and Trade, experts testified that IoT device manufacturers generally lack the financial incentive to secure their products while device consumers lack the motivation to practice responsible cyber hygiene with said products.
“The market really can’t fix this. The buyer and seller don’t care,” testified Bruce Schneier, a computer security expert and fellow at Harvard University’s Berkman Klein Center for Internet & Society. “I argue that government has to get involved, that this is a market failure and what I need are some good regulations.”

Source: U.S. Dept. of IoT? Experts debate need for Internet of Things regulation | SC Magazine