Home Latest Feeds Technology News TikTok in trouble. The US could pass a devastating resolution that forces ByteDance to sell its shares

TikTok in trouble. The US could pass a devastating resolution that forces ByteDance to sell its shares

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TikTok in trouble.  The US could pass a devastating resolution that forces ByteDance to sell its shares

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TikTok in trouble.  The US could pass a devastating resolution that forces ByteDance to sell its sharesRecently, the US House of Representatives voted to pass a law that would force ByteDance to sell its US shares, otherwise TikTok could be completely blocked in the country. The Chinese company is protesting, and some senators are questioning the constitutionality of such action. So let’s try to answer the question: does this actually mean the end of TikTok?

The US House of Representatives passed a resolution that could bury the operation of the TikTok application in the United States. However, final decisions rest with the Senate and President Joe Biden.

TikTok in trouble.  The US could pass a devastating resolution that forces ByteDance to sell its shares [1]

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On Wednesday, March 13, 2024, the US House of Representatives passed a resolution that could potentially result in a ban of the TikTok application in the United States. 352 officials voted in support of it, while 65 were against. Interestingly, there is quite a lot of unanimity in the US government on this matter. The new law imposes on the owner of the application TikTok, ByteDance, the obligation to sell its shares in the USA within six months. However, the resolution still needs to be approved by the Senate and signed by President Joe Biden, although he has expressed his desire to do so as soon as possible. This will likely take some time, as ByteDance is expected to pursue all available legal remedies to challenge the new law. This may be happening now, as several senators have spoken out against the provision, calling for a violation First Amendment to the Constitution of the United States of America.

TikTok in trouble.  The US could pass a devastating resolution that forces ByteDance to sell its shares [2]

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The government and independent digital security experts report that the new law is a step in the right direction, but it is not a complete solution to the problem. There is a serious threat to the Chinese government’s access to the data of 170 million Americans. Even though TikTok user data has been stored in the United States for some time, there is a potential risk that ByteDance, the owner of TikTok, may be subjected to pressure from Chinese authorities to release such data. This situation may also occur with respect to Polish users. Depending on the reaction of the Chinese company, the American version of the application may be transferred to a domestic entity or be completely banned in the USA. In the first end-user scenario, changes may be minimal. However, the second possibility may result in a global crisis in the functioning of applications for publishing short videos, as the European Union may potentially follow the US.

Source: CBS News



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