The Biden administration is demanding TikTok's Chinese owner sell its stake in the app or risk getting banned, the company and a U.S. official told ABC News.
TikTok confirmed to ABC News on Wednesday that it was recently contacted by the Committee on Foreign Investment in the U.S. (CFIUS). The company said CFIUS prefers for ByteDance to sell its stake in TikTok, rather than reach an agreement with the U.S. government over national security concerns.
This move is an escalation and comes as the administration has been publicly hardening its stance against TikTok. Last week, the White House came out in support of bipartisan legislation that could be used to ban TikTok. #tiktok #biden #china
