The walls are closing in on TikTok, with the company confirming reports that the U.S. wants it to shed its Chinese ownership or exit the U.S. market.
Frustratingly, the Treasury-led Committee on Foreign Investment in the U.S. made the demand behind closed doors. CFIUS has been investigating TikTok’s national security implications for years, and its failure to reach a conclusion has led to lawmakers trying to ban the ByteDance-owned app through legislative means. But whether out in the open or not, something is finally happening.
