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Shakib Khan
Jun 19, 2022
In Interior Design Forum
Possible acquisition of TikTok, parent company Coinbase User List Byte Dance has been fending off a separate executive order that would have prevented new downloads of TikTok and software updates on Sept. 20 and an outright ban on Nov. 12. TikTok averted the download ban after the executive order was blocked by a U.S. District Court in Coinbase User List Washington. Following that ruling, a federal judge in Pennsylvania late last month temporarily blocked several government restrictions that would have prevented TikTok from operating in the U.S., Ruling in favor of several creators who Coinbase User List had argued they relied on the app to make a living. TikTok and ByteDance helped to support the legal action by connecting those influencers with a First Amendment lawyer and helping to formulate a legal strategy, The Wall Street Journal reported, citing unnamed sources familiar with the Coinbase User List matter. A deal to sell TikTok to Oracle and Walmart would help to remove uncertainty about the social video app’s future in the U.S., following differing claims about how the deal would be structured. In September, ByteDance said it would own 80% of TikTok Global, a newly created U.S. Subsidiary to oversee most operations worldwide. However, Oracle issued a statement saying Byte Dance’s ownership of TikTok Coinbase User List Global would be distributed to investors, and that Byte Dance wouldn’t own the company. The Trump administration had tentatively approved the deal, but the Chinese government cast doubt on those plans after enacting a law to prevent the export of artificial intelligence technologies that are a key part of TikTok’s platform to engage viewers with a continual feed of viral videos. Byte Dance later applied for an export license amid the negotiations to sell TikTok.
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