United

Biden

Joe Biden

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 <a href="https://finance.yahoo.com/news/tiktok-ceo-expects-defeat-us-152322739.html?ncid=twitter_yfsocialtw_l1gbd0noiom" target="_blank" rel="noreferrer noopener" data-wpel-link="external">requires</a> 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. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/18/tiktok-denies-accusations-of-data-transfer-to-china/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">TikTok Faces Data Transfer Claims, Blockchain Pitched as Solution</a> 
</blockquote>

Biden Signs Law Targeting TikTok; CEO Vows Legal Challenge

The Crypto Times

Other articles published on Apr 25, 2024

Samourai Wallet Founders Arrested Over Money Laundering Allegations; Edward Snowden Weighs In

Most Trending Cryptos on Ethereum Chain Today – Olympia AI, DeTensor, Xi Token

The Memecoin 'Casino' Undermines Crypto's Long-Term Prospects: A16z

US SEC expected to deny spot Ether ETFs next month

Justin Bieber Records 95% Loss in NFT Investments, But He Still Holds Some Tokens

Grayscale Bitcoin Trust (GBTC) Breaks Unusual Record: Details

Join our free newsletter for daily crypto updates!