According to Bloomberg News, a source told that the international version of the Chinese short video platform DouyinTIC TocConsider the possibility of a spinoff from parent company ByteDance to address concerns about US national security risks.
TikTok is facing the threat of a complete ban in the United States. Members of both parties in the US Senate proposed new legislation last week to give the Biden administration the power to block or compel the sale of TikTok.
Bloomberg quoted sources as saying that Tiktok is currently accepting American foreignersinvestCommission’s national security oversight, but it is reported that TikTok is not happy with it, and divestment from ByteDance may be TikTok’s last resort.
In fact, TikTok agreed to implement certain measures in 2022 to address national security concerns from US officials. The US censors user data and its software, and appoints a government-approved three-person oversight board.
The stalled review process by interagency body Cfius has left TikTok unsure whether the plan is sufficient to support the company’s continued operations in the United States, people familiar with the matter said. Cfius members of the Justice Department have been reluctant to accept TikTok’s offer, said other people familiar with the matter.
Sources said the spinoff could lead to a sale of TikTok or an initial public offering (IPO) of the stock. The Chinese government would then have to agree to such a deal as well.
Currently, TikTok is banned from being installed on national official devices in the United States, and Australia and several European Union countries are also subject to similar restrictions. violated and leaked themconfidentialitySuspicion of information, and poor guidance for younger age groups.
In this regard, TikTok is also working hard to prove its innocence, such as cooperating with Oracle in the United States to store US user data on servers in the United States. In Europe, TikTok also announced an investment of 1.2 billion euros to set up data centers in Ireland and Norway. In the future, users’ data in European countries will be stored in Europe, and local companies will be responsible for supervision and inspection.
In addition, TikTok CEO Zhou Shouzhi will attend a hearing held by the US Congress on March 23 to answer questions about user privacy and consumer data protection safeguards and the platform’s impact on minors.
China
