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☆ Congress just passed a potential TikTok ban. Here’s what happens next
  + stars: | 2024-04-23 | by ( Brian Fung | ) edition.cnn.com   time to read: +5 min
Washington CNN —Congress finalized legislation on Tuesday that could lead to a nationwide TikTok ban, escalating a massive threat to the company’s US operations. What does the TikTok legislation do? The earlier TikTok bill had been passed by the House, but it stalled in the Senate. In a procedural move, House Republicans this month attached the revised TikTok bill to the foreign aid package in hopes of forcing the Senate to vote on the TikTok legislation. Bundling the bill with the foreign aid — a top US priority — fast-tracked the TikTok bill and made it more likely to pass.
Persons: Joe Biden’s, Biden, there’s, Will Biden, Jennifer Gay, Mariam Zuhaib, —, TikTok, Shou Chew, ”, Nadine Farid Johnson, ByteDance Organizations: Washington CNN —, Republicans, Senate, White, U.S . Capitol, U.S, TikTok, Columbia University, “ Locations: Israel, Ukraine, United States, Washington, China
☆ Is the US really close to banning TikTok? Yes? And, also: No.
  + stars: | 2024-04-22 | by ( Peter Kafka | ) www.businessinsider.com   time to read: +4 min
A bill aimed at banning TikTok in the US could be signed into law as early as this week. AdvertisementThe US House of Representatives passed a so-called TikTok ban bill on Saturday. Combining all three things means the TikTok bill will likely be approved as part of the package deal. AdvertisementSo you're saying ByteDance really has a year to sell TikTok to a different owner? For reference: In May 2023, Montana lawmakers passed their own TikTok ban bill; in November of that year, a federal judge blocked the measure.
Persons: —, Will TikTok, Joe Biden, TikTok, Biden, there's, ByteDance, Steve Mnuchin, Trump, Mnuchin, doesn't Organizations: Service, US, Google, Apple Locations: TikTok's China, TikTok, Ukraine, Israel, Montana, China
☆ Oracle met with Senate aides about TikTok data storage after House ban passed
  + stars: | 2024-04-22 | by ( Brian Schwartz | ) www.cnbc.com   time to read: +3 min
The House legislation would require TikTok's China-based parent company ByteDance to divest the social media app, or face an eventual ban in the United States. Glueck said Oracle did not lobby for or against the TikTok bill, and only disclosed the meetings on mandatory filings in order to be transparent. "In a TikTok ban or shut-down scenario, Oracle would lose what is likely its largest OCI [Oracle Cloud Infrastructure] customer. Though the initial House bill briefly stalled in the Senate, a similar piece of legislation passed the House on Saturday and already has key support in the Senate. The services included providing congressional offices "technical assistance" in regards to the TikTok legislation, according to the disclosures.
Persons: Ken Glueck, Oracle, Glueck, Sen, Maria Cantwell, Mark Warner, Both Cantwell, Warner, Joe Biden, TikTok Organizations: Oracle, CNBC, Fierce Government Relations, Polaris Government Relations, Senate, Intelligence Committee, Oracle Cloud Infrastructure, UBS, TikTok, Intelligence, Records, Polaris, Internal Revenue Service Locations: Washington, United States, China
☆ Who is Jeff Yass? The billionaire donor with investments in TikTok’s parent company
  + stars: | 2024-03-12 | by ( Kalhan Rosenblatt | ) www.cnbc.com   time to read: +3 min
Yass co-founded the Philadelphia-based trading firm Susquehanna International Group, which owns a 15% stake in TikTok's China-based parent company, ByteDance. Yass' investment is under threat today, and the typically press-shy billionaire is taking fire from both the left and the right. "This would be a nightmare for Yass, given the major investment in TikTok, if a forced ban hit the company under the Biden administration," Ives said. Today, at least 150 million Americans use TikTok regularly, according to company data. The company has said it stores U.S. users' data securely and rejects the idea that it poses a threat to national security.
Persons: Jeff Yass, Yass, Donald Trump, ByteDance, Joe Biden, Dan Ives, Biden, Ives, TikTok, Chip Roy, Shou Zi Chew Organizations: Susquehanna International Group, TikTok, Wedbush Securities, Susquehanna, NBC, Capitol Locations: TikTok, Washington, Yass, Philadelphia, TikTok's China, bankrolling, ByteDance, Beijing, Texas
☆ TikTok says it has never been used to target specific people after Forbes reported the app would be used to monitor some individuals' locations
  + stars: | 2022-10-21 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +2 min
TikTok says the app has never been used to target specific individuals in the US government. Its parent ByteDance planned to use the app to monitor the locations of some Americans , Forbes reported. monitor the locations of some Americans TikTok has been caught in debates about privacy and security under in the US. The social media platform tweeted the denial after Forbes reported on October 20 that ByteDance, TikTok's China-based parent, planned to use the app to monitor the locations of certain Americans. TikTok spokesperson Maureen Shanahan said the app collects approximate location information based on the IP addresses of users, Forbes reported.
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