TikTok Ban Update: Senate Considers Revised Bill, Sale Deadline Extended
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 Senate is expected to vote on the measure as early as Tuesday afternoon. The bill, which was merged with a larger spending bill, would give ByteDance 270 days to divest TikTok, with a possible 90-day extension if a sale is in progress.
If the bill passes and is signed by President Biden, ByteDance would have until January or April of 2025 to sell TikTok. The social media giant has indicated it will challenge the law in court if it passes, arguing it would deprive the app’s millions of users of their First Amendment rights.
Interested buyers, including Kevin O’Leary and Steven Mnuchin, have expressed interest in acquiring TikTok, valued at over $100 billion. However, the Chinese government’s approval would be required due to export restrictions on recommendation algorithms.
For now, though, TikTok remains available to its 170 million U.S. users. Legal challenges are likely to delay the divestment deadline and the ban itself.
