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How a TikTok ban in the US could affect the crypto industry

Published 03/31/2023, 09:01 AM
Updated 04/01/2023, 12:20 PM

On March 23, the world watched as United States lawmakers questioned TikTok CEO Shou Chew at a House Energy and Commerce Committee hearing in Washington. In the hearing, lawmakers grilled the CEO over suspicions that the Chinese government is gathering user data through the app.

The intensity of the exchanges went viral online, with many believing that a ban — exemplified in the Restricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT) Act recently introduced in the United States Senate — may be imminent.

TikTok views of some hashtags related to crypto. Source: TikTok

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