1. software stack – big fat "firmware" should not exist. Entire stack should be upgradable safely, securely and frequently during its official supported lifetime and should be open-sourced for owner's own upgrades past end of life. For this, the hardware stack needs some amount of standards compliance.
2. Vendor should clearly declare/advertise the period for which they will support the device. During this period the device vulnerabilities should make them liable. After this period, they should mandatorily open-source the device drivers and unlock the boot loaders to enable free software alternatives to work on them. For certain class of devices, there should be mandatory minimum period of support.
3. Networking capabilities should be legally standardized and verified/certified before being released to market and checked for continued compliance and fined if out of compliance.
3.1 Use of latest mainstream TLS with valid certificates should be mandated for all communication.
3.2 If there is outbound communication from the device, it should make it clear to which domains it will communicate with so that it is easy to allow only that through firewall and keep everything else locked.
3.3 IoT should not accept inbound communication without authentication.
3.4 Follow best practices w.r.t rollback resistant cryptographically verified secure and brick-safe software upgrades.