From Nasdaq:

A bipartisan group of U.S. lawmakers is introducing legislation to force ByteDance to divest TikTok in 165 days or face a ban. The bill aims to address national security concerns around Chinese ownership of the popular app, used by over 170 million Americans.

Last year, Senate legislation to ban TikTok stalled in Congress. The new bill, expected to be discussed in a hearing Thursday, could threaten ByteDance’s ownership of TikTok but faces challenges in an election year.

The bill would grant the president new powers to designate apps posing national security risks. It would apply to apps with over one million annual active users controlled by foreign adversaries. Concerns about Chinese-owned TikTok have fueled efforts in Congress to address the app’s security risks.

The White House previously supported legislation giving the administration power to ban TikTok and other tech if they pose security threats. The new bill aims to bolster legal authority to address TikTok concerns and follows previous efforts to address national security risks associated with the app.

Other Chinese non-social media apps like Shein and Temu would not be covered by the bill. The legislation is part of a broader effort to address concerns surrounding apps with connections to foreign adversaries.



Read more at Nasdaq: Lawmakers seek to force ByteDance to divest TikTok or face US ban