A group of US lawmakers introduced legislation on Tuesday that, if passed, would force Chinese internet company ByteDance to divest TikTok – its most valuable asset – or see it banned in the US.
US lawmakers are asking ByteDance to divest Tiktok or face a nationwide ban
The bill is titled the Protecting Americans from Foreign Adversary Controlled Applications Act. Among other things, it prohibits app store availability and web hosting services in the United States for applications controlled by entities deemed to be controlled by a foreign adversary.
TikTok has a lot to lose if the bill becomes law. The viral video app celebrated reaching 150 million monthly active users in the US last year. That figure has since increased to 170 million.
Under the provisions of the law, violators – in this case ByteDance – can be fined up to $5,000 per user. You do the math.
