The House passed legislation that would ban TikTok if its parent company doesn’t sell its stakes in the social media platform within six months of the bill’s enactmentTikTok is a wholly owned subsidiary of Chinese technology firm ByteDance Ltd.If ByteDance chooses to divest its stakes, TikTok would continue to operate in the U.S. if the President determines “through an inter-agency process” that the platform is “no longer being controlled by a foreign adversary.
President Biden has said he will sign the bill if lawmakers pass it. In that event, ByteDance would have 180 days to sell TikTok to a qualified buyer before it is banned. The Biden administration revoked Trump’s executive order but continued a review of the platform by the secretive Committee on Foreign Investment in the U.S., an intra-agency committee that reportedly threatened to ban TikTok last year if its Chinese owners don’t divest their stakes. The White House acknowledged last month that review remains ongoing.
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