“It’s better we shut down TikTok” – Byte-Dance

The US government has greenlit a significant national security measure, officially sanctioned by President Joe Biden yesterday. This new law mandates TikTok’s parent company, ByteDance, to either sell its US business to a domestic entity within nine months or face a potential ban on the platform. According to Reuters, ByteDance is reluctant to comply and prefers shutting down TikTok, citing the indispensability of its algorithms to their operations. 

Byte-Dance intends to challenge the ban in court, aiming to halt the implementation of the legislation. In a related development, The Information released a report suggesting Byte-Dance explored selling a majority stake in TikTok while retaining control of its algorithm. However, Byte-Dance swiftly refuted these claims in a press release on the Chinese media platform Toutiao.

[Image Source: CNBC]