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US President Joe Biden has approved legislation to ban the world-famous social media app TikTok if it does not sell its assets in the US to another company within 270 days.

After Biden's approval, TikTok CEO Shou Zi Chew made statements.

Shou stated that they expect to win the legal struggle they will initiate to block the law in question and said, "Rest assured, we are not going anywhere. The facts and the Constitution are on our side and we hope to prevail again."

Why does the US want to ban TikTok?

There is concern that the Chinese government could force ByteDance to hand over data on TikTok's 170 million US users.

"For years we allowed the Chinese Communist Party to control one of the most popular apps in America, an attitude that was dangerously short-sighted," said Senator Marco Rubio, the ranking Republican on the Intelligence Committee. The new law will require the Chinese owner to sell the app. This is a good move for America."

TikTok insists it will not give foreign user data to the Chinese government. It says ByteDance is "not an agent of China or any other country."

ByteDance emphasizes that it is not a Chinese company and that 60% of its shares are owned by global investment companies.