Legal Monster have assessed the IAB's TCF v2.0, and its technical requirements and approval process.
The TCF imposes very strict requirements on the design and functionality ("UX") of cookie-consent widgets in order for these to be approved by the IAB, as well as how implementing organisations interact with advertising vendors. Given the fast-moving, frequent changes to requirements in various jurisdictions around the world, the TCF's policies will not necessarily reflect the legal landscape.
Legal Monster's services regularly adapt to new guidelines and rulings issued by data-protection authorities, and implementing TCF v2.0 would significantly limit this.
Web browsers are generally moving towards stricter privacy settings and blocking of third-party cookies, and data-protection authorities are regularly issuing updated guidelines and rulings. The IAB acknowledge this problem themselves.
In light of the above, Legal Monster does not support IAB TCF in its current form. However, we will continue to follow the development of the IAB's framework, and the surrounding legal landscape.