US President Joe Biden’s administration is “demanding” that ByteDance sell TikTok. Otherwise, the platform is threatened with a ban on the territory of the country, writes Reuters.
The new requirement is a “major blow,” a spokesman for the video service said. According to him, the company has been in dialogue with the Committee on Foreign Investment in the United States (CFIUS) for more than two years about its future in the country.
Negotiations led to an extensive partnership with Oracle and other efforts to protect user data in the United States.
Now CFIUS has told TikTok that ByteDance still needs to sell its stake in the company. If this does not happen, the application may face a national ban.
The House and Senate recently introduced bills that would make it easier for the government to ban the video service and other “national security threat” technologies.
Earlier, the US Congress approved a ban on the app on government devices.
TikTok did not comment on the information. The company has previously said that pulling out of ByteDance will not address the government’s key data security concerns.
This is not the first time that ByteDance has been pressured by the US authorities. Former President Donald Trump also tried to force TikTok to sell the American part of the business. but unsuccessfully.
However, the latest threats to completely ban the app could increase pressure on the company’s CEO, Show Zi Chu, who is scheduled to testify before the US Congress on March 23.
Recall that in March 2023, a bill was presented in the US House of Representatives, giving the president the right to ban TikTok in the country.
A few days later, a similar initiative came from a bipartisan group of US senators.
In December 2022, TikTok announced an increase in the transparency of its recommendation algorithms.
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US President Joe Biden’s administration is “demanding” that ByteDance sell TikTok. Otherwise, the platform is threatened with a ban on the territory of the country, writes Reuters.
The new requirement is a “major blow,” a spokesman for the video service said. According to him, the company has been in dialogue with the Committee on Foreign Investment in the United States (CFIUS) for more than two years about its future in the country.
Negotiations led to an extensive partnership with Oracle and other efforts to protect user data in the United States.
Now CFIUS has told TikTok that ByteDance still needs to sell its stake in the company. If this does not happen, the application may face a national ban.
The House and Senate recently introduced bills that would make it easier for the government to ban the video service and other “national security threat” technologies.
Earlier, the US Congress approved a ban on the app on government devices.
TikTok did not comment on the information. The company has previously said that pulling out of ByteDance will not address the government’s key data security concerns.
This is not the first time that ByteDance has been pressured by the US authorities. Former President Donald Trump also tried to force TikTok to sell the American part of the business. but unsuccessfully.
However, the latest threats to completely ban the app could increase pressure on the company’s CEO, Show Zi Chu, who is scheduled to testify before the US Congress on March 23.
Recall that in March 2023, a bill was presented in the US House of Representatives, giving the president the right to ban TikTok in the country.
A few days later, a similar initiative came from a bipartisan group of US senators.
In December 2022, TikTok announced an increase in the transparency of its recommendation algorithms.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
