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Trump to Sign Executive Order on TikTok U.S. Deal, Delaying Ban
Trump to Sign Executive Order on TikTok U.S. Deal, Delaying Ban
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BTCCSquare news:
President Donald TRUMP will sign an executive order on Thursday approving a deal to transfer TikTok’s U.S. operations to a consortium of American investors, including Oracle. The move aims to comply with a 2024 law requiring ByteDance, the app's Chinese owner, to divest its control.
The ban, initially set to disrupt 170 million U.S. users, has been delayed to allow for the sale's completion. The executive order may extend the pause by 120 days, giving stakeholders time to finalize technical and legal details.
Trump retains authority to determine whether the deal constitutes a full divestiture. Key considerations include ByteDance's residual ownership, data governance, and operational control of TikTok's U.S. entity.
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