Home Business & Finance Regulators Are Now Reviewing TikTok over National Security Concerns

Regulators Are Now Reviewing TikTok over National Security Concerns

Regulators Are Now Reviewing TikTok over National Security Concerns

TikTok’s parent company ByteDance has come into spotlight in the recent weeks after several lawmakers expressed their concerns over the company’s controversial policies as well as potential ties to the Chinese government. Although the company has denied the allegations, the US Committee on Foreign Investment (CFIUS) has reportedly opened a national security review of ByteDance.

ByteDance acquired lip-syncing app Musical.ly back in 2017. Afterwards, the company rebranded the service as TikTok. At the time, the company didn’t ask for approval from the authority. As a result, the regulators now have the scope to investigate it.

Recently TikTok has garnered a lot of attention due to potential ties with Chinese government along with the company’s relaxed privacy guidelines. Shortly after FTC fined the company $5.7 million, it started censoring contents related to Hong Kong protests which strengthen the allegations even more. Since then, the parent company has issued a statement to defend itself.

In the statement, ByteDance explained that it doesn’t operate in China and data of those who are located in the United States are stored locally. Interestingly, the company revealed that it has “no higher priority than earning the trust of users and regulators in the US.”

As we move forward, it’ll be interesting to see how the entire allegations unfold as a lot of younger people are currently shown to be interested in working for the app.

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