A finance spokesman said ByteDance had a week to review a filing.
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- TikTok has been criticized and threatened by the Donald Trump administration for alleged links with the Chinese government, and its use would even be banned in the American country.
- This new extension provides a December 4th deadline for its assets to be restructured in the United States.
The US government had previously granted ByteDance, the company that owns TikTok, a 15-day extension to sell its shares in the short video platform. However, everything seems to indicate that a new extension has been granted.
According to the portal The managing directorA US Treasury Department official said there would be an extra week to review a “modified proposal” that was recently received.
With the first 15-day concession, the Chinese company had until November 27 to reach an agreement to restructure its shares. However, with this new expansion you have a deadline of December 4th.
ByteDance has been in talks with Oracle, Walmart, and other US investors with the aim of handing control of US user data to these companies and thereby giving the government more security, but they have not reached an agreement yet.
TikTok has been the target of criticism and threats from the Donald Trump administration for alleged links with him. Chinese government and its use would be banned even in the American country, but the Department of Commerce confirmed that it will not enforce the Prohibition Ordinance at the moment and that “it will wait for new legal developments”.