🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Appeals court to hear challenges to potential US TikTok ban on Sept. 16

Published 06/17/2024, 10:07 AM
Updated 06/17/2024, 11:00 AM
© Reuters. FILE PHOTO: U.S. flag is placed on a TikTok logo in this illustration taken March 20, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

By David Shepardson

WASHINGTON (Reuters) -A U.S. appeals court on Monday said it will hold oral arguments on Sept. 16 on legal challenges to a new law requiring China-based ByteDance to divest TikTok's U.S. assets by Jan. 19 or face a ban.

On May 14, a group of TikTok creators filed suit to block the law that could ban the app used by 170 million Americans, saying it has had "a profound effect on American life" after TikTok and parent company ByteDance filed a similar lawsuit.

The hearing before the U.S. Court of Appeals for the District of Columbia will put the fate of TikTok in the middle of the final weeks of the 2024 presidential election. Earlier this month, Republican presidential candidate Donald Trump joined TikTok and he has raised concerns about a potential ban.

The creators, TikTok and ByteDance must file legal briefs by Thursday and the Justice Department by July 26, with reply briefs due by Aug. 15.

TikTok and the Justice Department have sought a ruling by Dec. 6 in order to seek review from the Supreme Court if needed.

A third legal challenge was filed on June 6 by the Liberty Justice Center, representing BASED Politics Inc., a conservative group that posts videos on TikTok.

Signed by President Joe Biden on April 24, the law gives ByteDance until Jan. 19 to sell TikTok or face a ban. The White House says it wants to see Chinese-based ownership ended on national security grounds, but not a ban on TikTok.

© Reuters. FILE PHOTO: U.S. flag is placed on a TikTok logo in this illustration taken March 20, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

The law prohibits app stores like Apple (NASDAQ:AAPL) and Alphabet (NASDAQ:GOOGL)'s Google from offering TikTok and bars internet hosting services from supporting TikTok unless it is divested by ByteDance.

Driven by worries among U.S. lawmakers that China could access data on Americans or spy on them with the app, the measure was passed overwhelmingly in Congress just weeks after being introduced.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.