IoT Security Act: Banning Contracts for Foreign Supply Chain Threat Companies.
This law aims to boost the security of internet-connected devices (IoT) used by consumers and government alike. It establishes a process to place foreign manufacturers of these devices, if they pose a supply chain security threat, onto a restricted list (the Entity List). Companies on this list will be barred from receiving federal financial aid and securing government contracts for IoT devices, enhancing overall technological security.
Key points
The US government will regularly identify foreign companies producing IoT devices that pose a threat to supply chain security and recommend their inclusion on the Entity List.
Companies placed on this list are prohibited from receiving any form of Federal financial assistance (grants, loans, subsidies).
The Federal Government is banned from entering into contracts with these listed companies for any Internet of Things devices.
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