The Federal Trade Commission announced Tuesday that it has referred a complaint against TikTok and parent company ByteDance to the Justice Department over an investigation into alleged violations of a law intended to protect children's privacy online. The FTC explained that it was investigating TikTok and ByteDance as part of a compliance review into Musical.
TikTok said in a statement it has been working with the FTC and that it's disappointed the regulator referred the investigation to the Justice Department. "We've been working with the FTC for more than a year to address its concerns," a TikTok spokesperson told FOX Business. "We're disappointed the agency is pursuing litigation instead of continuing to work with us on a reasonable solution.
TikTok and ByteDance have until Jan. 19, 2025, to decide whether to sell the company to an owner who isn't from a foreign country considered to be an adversary of the U.S. or else the ban would take effect. TikTok and ByteDance have challenged the law in court. The situation has prompted billionaire Frank McCourt to form a consortium of investors looking to buy TikTok from ByteDance.
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