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US senator proposes 270-day delay on TikTok divestment

Senator Ed Markey of the Democratic Party has introduced a proposal to extend TikTok’s divestment deadline by 270 days as the January 19 deadline approaches.

The bill, known as the Extend the TikTok Deadline Act, aims to provide the company additional time to separate from its parent company, ByteDance, to avoid a potential United States ban.

The proposed legislation will not revoke the existing Protecting Americans from Foreign Adversary Controlled Applications Act but will extend the compliance period.

The Supreme Court is expected to decide soon whether the current law, which could result in a ban on TikTok, infringes on First Amendment rights.

If the extension is approved, ByteDance will still need to decide whether to proceed with a sale in the coming months.

Recent TikTok developments

Timeline
14-Jan-2025 🚫 TikTok denies sale to Elon Musk amid US lawsuit
  • TikTok denies report on sale to Elon Musk.
  • Supreme Court reviews potential US ban and divestment.
10-Jan-2025 🛍️ TikTok Shop rival Whatnot raises $265m, valued at $4.97b
  • Whatnot raises $265M, valued at $4.97B.
  • Plans for international expansion and new retail categories.
07-Jan-2025 🛍️ TikTok Shop reaches $32.6b GMV in 2024
  • TikTok Shop’s GMV hits $32.6 billion globally.
  • Beauty products top sales across TikTok Shop markets.
18-Dec-2024 ⚖️ TikTok appeals US Supreme Court to block potential ban
  • TikTok appeals to block potential U.S. ban.
  • Legal team cites First Amendment rights violations.
17-Dec-2024 🤳 TikTok CEO meets Trump amid US ban deadline

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