The US Congressional Budget Office (CBO) has estimated that implementing the Internet of Things (IoT) Cybersecurity Improvement Act of 2019 will cost US $35 million over the 2019-2024 period, plus an additional US $11 million in 2020 to develop the IoT guidelines and standards mandated in the legislation.
A report by MeriTalk said one of the requirements also will be that the National Institute of Standards and Technology (NIST) will have to develop recommended standards for IoT devices, and would task the Office of Management and Budget (OMB) with issuing guidance to agencies that aligns with NIST’s requirements. It also would require NIST to offer guidance on vulnerability disclosure, and report on IoT cybersecurity threats.
Via: MeriTalk