Discussions about the need to either take control of the social network TikTok or ban it outright in the US have been going on for years, and in the past advocacy groups have devised a plan dubbed Project Texas to meet the demands of the to comply with the United States. If it doesn’t work out, ByteDance is willing to sell or list TikTok’s US business.
The agency publishes at least this information about the current considerations of the TikTok management Bloombergcall it extreme measures. If ByteDance, which developed TikTok, decides to sell the company or take it public in the US, such a deal would still have to obtain approval from the Chinese government, making an alternative plan difficult to implement.
Last year, the so-called Project Texas involved the involvement of the American group Oracle in the storage and processing of TikTok users’ data in the United States, as well as the creation of a special committee of three officials who would oversee the activities of this social network. The Committee on Foreign Investment in the United States (CFIUS) did not approve of this initiative, causing confusion and uncertainty among TikTok management about the future fate of the social network in the US. According to others, the project met with opposition from the Justice Department.