TikTok Prepares for Legal Battle as US Law Threatens Ownership Change

ByteDance Struggles Against Congressional Push to Change TikTok Ownership

Apr 22, 2024 - 00:05
Apr 22, 2024 - 00:05
 145
TikTok Prepares for Legal Battle as US Law Threatens Ownership Change
TikTok Prepares for Legal Battle as US Law Threatens Ownership Change

TikTok, the popular social media app, faces tough legal challenges as Congress speeds up a plan to force its Chinese parent company, ByteDance Ltd., to change ownership. Despite saying for years that it's safe, TikTok is now in a big fight started by the US House of Representatives.

This move by Congress, linked to helping Ukraine and Israel, is a big step in the ongoing battle between TikTok and the US government. President Joe Biden's promise to quickly sign the law makes ByteDance's legal fight even harder.

ByteDance says it will fight this law in court, trying everything before giving up ownership. Michael Beckerman, who works on TikTok's public policy, calls this situation new and says it's a deal between the Republican Speaker and President Biden.

TikTok is asking its many users to help stop the ban by contacting lawmakers. Even though TikTok has talked a lot with lawmakers and the public, people are still worried about how safe their data is and if foreign governments might have influence.

The law, which got strong support in the House, doesn't just affect TikTok. It also puts new rules on companies that sell data and gives support to Ukraine. TikTok says this law takes away people's right to free speech and hurts its contribution to the US economy.

With TikTok's future at stake, a long legal battle lies ahead, with big implications for social media in the US.

Also Read: US Moves Closer to TikTok Ban: What You Need to Know

iShook Opinion Curated by iShook Opinion and guided by Founder and CEO Beni E Rachmanov. Dive into valuable financial insights at ishookfinance.com for expert articles and latest news on finance.