A bill that would mandate the sale or ban of TikTok, popular social media app owned by Chinese company ByteDance, has gained significant traction and is now on the cusp of becoming law. The Senate overwhelmingly passed the “Protecting Americans from Foreign Adversary Controlled Applications Act” by a vote of 79-18, and the bill now heads to President Joe Biden’s desk for his signature.
A ban on TikTok in the US is back on the table as the Senate considers a revised bill that would give ByteDance, TikTok’s China-based owner, additional time to sell its stake. The measure, which was merged with a larger spending bill, could be passed as early as Tuesday afternoon. If the bill passes and is signed by President Biden, ByteDance would have 270 days to divest TikTok, with a possible 90-day extension if a sale is in progress. Should the company fail to divest within this timeframe, the ban would take effect between January and April 2025. However, legal challenges are likely to delay the divestment deadline and the ban itself. TikTok has indicated it will challenge the law in court if it passes. Interested buyers, including Kevin O’Leary and Steven Mnuchin, have expressed interest in acquiring TikTok, valued at over $100 billion. The Chinese government’s approval would be required due to export restrictions on recommendation algorithms.
