Senator claims Tiktok extension violates federal law.

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WASHINGTON (Reuters) -The top Democrat on the Senate Intelligence Committee said on Monday that President Donald Trump’s decision to extend a deadline for China-based ByteDance to divest short video app TikTok’s U.S. assets violates the law.

Senator Mark Warner also said the reported likely deal under consideration would not meet legal requirements for eliminating ByteDance’s influence over TikTok’s U.S. operations under a 2024 law.

The reported deal “would preserve a material, operational role for ByteDance by not only allowing it to retain a significant equity stake in the divested entity, but also an active role in technology development and maintenance,” he said.

MORE:
https://finance.yahoo.com/news/senator-warner-says-trump-tiktok-222122440.html

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