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Headline : The TikTok Ban Bill Has Been Signed — Heres How Long ByteDance Has to Sell, and Why TikTok Is Preparing for a Legal Battle

Read more from the original article on here at www.entrepreneur.com.





Tags : #tiktok #ban #bill #been #signed #heres #long #bytedance #sell #tiktok #preparing #legal #battle


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By Sherin Shibu • Apr 24, 2024

The U.S. Senate passed a multi-billion dollar package on Tuesday that included foreign aid alongside legislation that forces TikTok to separate from its Beijing-based parent company within a year — or face a national ban. President Biden made the law official, signing it on Wednesday.

Prompted by national security concerns, the bill gives TikTok's owner ByteDance nine months to sell the popular social media platform, which boasts over 150 million users in the U.S. ByteDance could get an additional three months to complete the order if a TikTok sale is in progress, bringing the maximum time that TikTok has to be sold or be banned to a year.

Read more from the original article on here at www.entrepreneur.com.


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