U.S. tells TikTok owners to sell app or face a ban

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The Biden Administration has warned TikTok that it faces a ban in the U.S. if its Chinese parent company, ByteDance, does not sell its stake in the U.S. version of the app.
TikTok has become one of the most popular mobile apps in the country, amassing over 100 million U.S. users. Banning it would have an immediate impact on millions of everyday Americans, and would mark a significant escalation of tensions between China and the U.S.
The Committee on Foreign Investment in the United States (CFIUS), a regulatory arm that reviews foreign investments in the U.S., told TikTok that the government planned to ban the app in the U.S. if its owners didn’t sell it, according to a TikTok source familiar with the situation.
Their outreach included a broad outline of what a proposal for TikTok to remain in the U.S. would look like to satisfy the government’s national security concerns.
It’s is not clear to TikTok what CFIUS means by having its owners divest their stake, given that a large percentage of ByteDance’s shares are owned by global investment firms, the TikTok source noted, adding that CFIUS did not provide details or a written order.