Joe Biden, the House of Representatives and the Senate have passed legislation that will completely ban TikTok if it fails to divest from China.
The platform will reportedly have 1 year at most to sell. Now what’s interesting here, is while two of TikTok’s founders are Chinese, TikTok nor Byte dance are actually incorporated in China.
TikTok is incorporated in Singapore, which is the most capitalist nation in the world according to the Heritage foundation's economic freedom index. Byte Dance, TikTok’s parent company, is incorporated in the Cayman islands.
Three of Byte Dance’s 5 board members are American citizens, and TikTok’s American user data is stored in Texas and safeguarded by Oracle Infrastructure, an American company.
Byte Dance does have a headquarters in Beijing, but many multinational American companies also operate within China.
