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The Internet of Things (IoT) comprises physical/virtual networked objects that collect and exchange data with each other via the public Internet. As this exchange often takes place over public networks, many security attacks in an IoT environment are possible. First, we briefly review the security issues in the IoT environment. Next, we focus on recent cryptographic protocol standards that are in use or have been recommended for IoT devices to ensure secure communications. We also highlight the advantages and weaknesses of the several protocol standards for various IoT application scenarios including connected vehicles, health, smart home, and consumer appliances and devices. Finally, we discuss some challenges in the area of cryptographic protocol standards that still require to be addressed for IoT applications in the future.