Former US Treasury Secretary Steve Mnuchin announced plans to gather investors to purchase TikTok, expressing concerns over user privacy and national security. The House of Representatives passed a bill to ban TikTok unless ByteDance, its Chinese parent company, divests from US operations. Mnuchin believes TikTok should be owned by US businesses, citing China\'s restrictions on foreign ownership. Efforts to transfer control of TikTok to US entities have been ongoing, with a previous proposed deal involving Oracle and Walmart. Legislators worry about TikTok\'s security threat due to its large American user base, potentially sharing data with the Chinese government. US President Joe Biden intends to sign the bill into law if it reaches his desk.
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