TikTok, and its Chinese parent company ByteDance, have been under US government scrutiny over reports of insufficient data security. One of the world's most popular social media apps is currently in talks with the US Department of Justice regarding changes to its data security policy.
The stakes are high for the Chinese-owned social media app, as failing to address the security concerns would bring into question its continued operation in the US. TikTok needs to make changes to its data security and governance to alleviate fears of misuse of user data, or face divestment. If TikTok fails to bolster app's safeguards of user data, ByteDance will have to sell it.
The Department of Justice heads negotiations with TikTok, although both the U.S. Department of Treasury and the Committee on Foreign Investment in the United States (CFIUS) have a say in the matter.
TikTok has shown willingness to cooperate with the US government on resolving security issues and is open to negotiations. So far, the social media giant has been reluctant about talking to the media, although the company did reveal that it was “on a path to fully satisfy all reasonable U.S. national security concerns,” and that they were, quote, “confident” about the outcome of negotiations.