Will TikTok’s ban in the U.S. hit the crypto market hard?
TikTok, the social media platform launched in September 2016, is facing a potential ban in the U.S. Will it affect the crypto market?
On Jan. 19, the ban on TikTok in the U.S. will go into effect under the Protecting Americans From Foreign Adversary Controlled Applications Act. This legislation would make it illegal for app stores – run by Google and Apple – and web-hosting services to distribute or service TikTok.
The social media application, which had an advertising revenue of $6.2 billion in the U.S. in 2023, has been asked by the Supreme Court to either sell the application or face a ban.
The law cites national security concerns as its main reason for the ban, fearing that the Chinese government might…
