Connect with us

Hi, what are you looking for?

FinancialSourceReport.comFinancialSourceReport.com

Tech News

Senate passes TikTok ban bill, sending it to President Biden’s desk

Graphic photo illustration of the TikTok logo in a stop sign overlayed on a photo of Congress.
Cath Virginia / The Verge | Photo by Brendan Hoffman, Getty Images

A bill that would force China-based company ByteDance to sell TikTok — or else face a US ban of the platform — is all but certain to become law after the Senate passed a foreign aid package including the measure.

It now heads to President Joe Biden, who already committed to signing the TikTok legislation should it make it through both chambers of Congress. The House passed the foreign aid package that includes the TikTok bill on Saturday.

Once signed by the president, ByteDance would have up to a year to complete a sale of TikTok or face an effective ban for the platform in the US. The bill gives ByteDance an initial nine months and gives the president discretion to extend it another three should there be progress toward a deal. Still,…

Continue reading…

You May Also Like

Editor's Pick

Romina Boccia and Dominik Lett If you are congressional staff and you haven’t registered yet: Tomorrow, May 3, from noon to 1:15 P.M. EST, I will...

Editor's Pick

In this edition of StockCharts TV‘s The Final Bar, Dave shares a brief history of Bitcoin halving and relates it to the short-term and long-term technical...

Editor's Pick

More units of public debt mean weaker productive growth, higher taxes, and more inflation in the future. All three are manifestations of a slow-burn...

Tech News

Image: Bluesky Bluesky is apparently ready for a bigger challenge. It says it’s allowing heads of state to sign up now, a little over...