The Internet of Vehicles is revolutionizing modern transportation by making traditional vehicles intelligent systems that can exchange communication with their environment seamlessly. By leveraging V2V, V2I, and broader V2X technologies, IoV enhances road safety, traffic management, and driving experience. Advanced IoT integration, such as sensors, transmitters, and real-time data processing, are also enabled to detect hazards or optimize routes and provide unique services. While IoV may reduce accidents, ease traffic congestion, and minimize environmental impacts, it raises critical security and privacy challenges from the vast interchange of sensitive data. This chapter studies the transformative capabilities of IoV technology, a product of collaboration and convergence between both automobile and IT players, for setting up emerging regulation in the face of its implementation, be it issues relating to cost of adoption or raising new privacy challenges toward a secure transportation ecosystem.