Date: March 16, 2023
According to a report by The Wall Street Journal, the Committee on Foreign Investment in the United States (CFIUS) is demanding that ByteDance sell its stake in TikTok, despite two years of negotiations over the app's future in the country. If ByteDance refuses to sell, TikTok could face a national ban.
Both the House and Senate have introduced bills that would make it easier for officials to ban TikTok and other services deemed a national security threat. TikTok has previously stated that divesting from ByteDance would not address the government's underlying concerns about data security.
However, reports suggest that TikTok executives are discussing the possibility of separating from ByteDance if the CFIUS talks fall through. This is not the first time that the US government has attempted to force ByteDance's hand; former President Donald Trump also tried to compel TikTok to sell itself but was ultimately unsuccessful.
Arpit is a dreamer, wanderer, and a tech nerd who loves to jot down tech musings and updates. With a logician mind, he is always chasing sunrises and tech advancements while secretly preparing for the robot uprising.
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