TikTok Faces Deadline to Sell or Shut Down
US Government Gives ByteDance 45 Days to Divest
By [Author's Name] | April 21, 2024
The US government has given TikTok's parent company, ByteDance, 45 days to sell the popular social media app or face being shut down in the United States.
The deadline was set by the Commerce Department's Committee on Foreign Investment in the United States (CFIUS), which has been reviewing TikTok's operations since 2019 over concerns about national security.
CFIUS has expressed concerns that TikTok's user data could be accessed by the Chinese government, which could pose a risk to US national security. TikTok has denied these allegations, saying that it does not share user data with the Chinese government.
The House of Representatives passed legislation on Wednesday giving TikTok two choices: Find a buyer for the immensely popular app or shut down its operations in the United States. The bill now goes to the Senate for consideration.
If TikTok is unable to find a buyer within the 45-day deadline, the app will be shut down in the United States. This would be a major blow to TikTok, which has become one of the most popular social media apps in the world, with over 100 million monthly active users in the US.
It is unclear whether TikTok will be able to find a buyer within the short deadline set by the US government. The company has been in talks with several potential buyers, including Microsoft and Oracle, but no deal has been reached yet.
The future of TikTok in the US remains uncertain. If the company is unable to find a buyer, it will be forced to shut down its operations in the country, which would be a major loss for the social media landscape.
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