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Metaverse News

Biden Signs Law Targeting TikTok; CEO Vows Legal Challenge

Written By Brian Mutembei
Published 2024-04-25·Updated 6 months ago
Make The Crypto Times preferred on GoogleGoogle
Biden Signs Law Targeting TikTok; CEO Vows Legal Challenge

President Joe Biden has become the first person in the United States to sign a law that may entail a major alteration for TikTok. The law requires that ByteDance, of which TikTok is the parent company based in China, remove the assets in the U.S. within 9 months to effectuate the ban. The administration prioritizes addressing concerns about data privacy and national security by highlighting the risks associated with Chinese company ownership of data security.

The legislation passed by both the American Senate and House seeks to neutralize potential dangers from applications built and operated by foreigners, like Tiktok.TikTok’s CEO, Shou Zi Chew, said the company is ready to challenge the bill in court, using its constitutional rights, including the freedom of expression principle in the First Amendment.

Tightening the law could change how TikTok operates in the United States, affecting its 170 million American users and the jobs of its 8,000 employees in the country. Not to mention that the bill spells out the Administrator-in-Chief’s mandate to handle the cases of security-threatening foreign-owned apps.

Also Read: TikTok Faces Data Transfer Claims, Blockchain Pitched as Solution

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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