Biden signs TikTok ‘ban’ bill into law, starting the clock for ByteDance to divest it

The divest-or-ban bill is now law, starting the clock for ByteDance to make its move. The company has an initial nine months to sort out a deal, though the president could extend that another three months if he sees progress.

While just recently the legislation seemed like it would stall out in the Senate after being passed as a standalone bill in the House, political maneuvering helped usher it through to Biden’s desk. The House packaged the TikTok bill — which upped the timeline for divestment from the six months allowed in the earlier version — with foreign aid to US allies, which effectively forced the Senate to consider the measures together. The longer divestment period also seemed to get some lawmakers who were on the fence on board.

TikTok plans to challenge the law in the courts, Bloomberg reported based on an internal memo, which could ultimately extend the timeline should the courts delay enforcement pending a resolution. There also remains the question of how China will respond and whether it would let ByteDance sell TikTok and, most importantly, its coveted algorithm that keeps users coming back to the app.

Source link

About The Author

Scroll to Top