US senator wants Biden to block TikTok after Chinese gov't stake in subsidiary of parent company

  • 📰 rapplerdotcom
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

“We must also establish a framework of standards that must be met before a high-risk, foreign-based app is allowed to operate on American telecommunications networks and devices,' says Republican Senator Marco Rubio in a statement.

– a move that raises questions over how much influence Beijing is planning to wield in a tech sector reeling under an onslaught of regulatory action.

The 1% stake in Beijing ByteDance Technology, which holds some of the licenses for Douyin, the Chinese version of TikTok, as well as news aggregator Toutiao, was registered on April 30, according to corporate information app Tianyancha. It is held by WangTouZhongWen Technology, which is owned by three Chinese state entities including a fund backed by the country's main internet watchdog, the Cyberspace Administration of China , government shareholder data shows.

The stake does not give the Chinese government any share in TikTok, a source familiar with the matter said. TikTok is not available in China.amid a surge in antitrust probes and new rules for the industryA ByteDance representative said Beijing ByteDance Technology"only relates to some of ByteDance's China-market video and information platforms, and holds some of the licences they require to operate under local law.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in US

United States United States Latest News, United States United States Headlines