TikTok has long said it operates independently of ByteDance, the developer behind its Chinese equivalent Douyin, which itself had over 700 million monthly active users as of late 2022. companies globally, and it remained unclear how many American firms could even afford to acquire TikTok. The precedent set by such a move could have unpredictable implications for U.S. The White House responded to Newsweek's email seeking confirmation of the new push for divesture, which was first reported on Wednesday by The Wall Street Journal, by referring to CFIUS, which Newsweek also contacted by email. But it could also involve the sharing of sensitive details like its algorithm. In order to meet the conditions for reducing risk to data exposure-more than 100 million Americans have the app on their phone-such a deal would inevitably see the company cede a degree of control in the name of oversight. People walk past the headquarters of ByteDance, the parent company of video sharing app TikTok, in Beijing on September 16, 2020. TikTok didn't directly address a question about the possibility of a national security agreement with CFIUS. user data and systems, with robust third-party monitoring, vetting, and verification, which we are already implementing," TikTok said. "The best way to address concerns about national security is with the transparent, U.S.-based protection of U.S. "If protecting national security is the objective, divestment doesn't solve the problem: a change in ownership would not impose any new restrictions on data flows or access," a company spokesperson told Newsweek in an email. That window began closing rapidly in recent weeks as Congress stepped up its scrutiny of the social media platform and prepared to hand the White House more powers to impose controls. operations while addressing data privacy concerns. The Committee on Foreign Investment in the United States (CFIUS), the interagency panel that reviews foreign investments with national security implications, has demanded that the Beijing-based app maker divest, TikTok confirmed in a statement to the press.ĬFIUS and TikTok for two years had been discussing a possible mitigation agreement to allow the world's most downloadable app in 2022 to continue its U.S. TikTok has been threatened with a federal ban unless Chinese owner ByteDance sells its stake in the popular short video app, the company said on Thursday.
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