US Demands TikTok Owners Sell Stakes in TikTok or Face Possible Ban, Sources
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Sources say the US Committee on Foreign Investment (Cfius) is demanding that TikTok’s Chinese owners sell their stakes in the video-sharing app or face a possible U.S. ban due to fears of espionage from the popular video app.
TikTok said that a forced sale wouldn’t address the perceived security risk. Instead, it has pledged to spend $1.5 billion on a program to safeguard U.S. user data and content from Chinese government access or influence.
The negotiations with Cfius over securing TikTok’s data have been ongoing for more than two years and have been at a stalemate for months, with Pentagon and Justice Department representatives on the panel among those supporting a forced sale. It wasn’t immediately clear what the next step by the U.S. would be, and the people familiar with the matter say a resolution could be months away. (John D. McKinnon / Wall Street Journal)
Related: Associated Press, CNN, CBS, The Guardian, Quartz, The Hill, Dextero, New York T…
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