TikTok Divest-or-Ban Bill Expected to Become US Law in Days
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The US House has passed legislation that would force TikTok's Chinese parent company, ByteDance, to divest its ownership stake in the app. The legislation, which also includes new restrictions on data brokers and authorizes the confiscation of frozen Russian assets to aid Ukraine, passed with a 360 to 58 vote. The Senate is expected to vote on the measure next week, and President Joe Biden has said he will sign the legislation. ByteDance intends to exhaust all legal challenges before considering divestiture. TikTok has argued that the legislation violates the First Amendment and has spent over $1.5 billion on data privacy efforts to address national security concerns.

#Tiktok #Bytedance #UsLegislation #DataPrivacy #NationalSecurity

https://www.bloomberg.com/news/articles/2024-04-20/tiktok-divest-or-ban-bill-expected-to-become-us-law-within-days