In a major setback to the Chinese social media application TikTok, and its parent company ByteDance, the US-based general counsel for the platform- Erich Andersen, is stepping down from his role after the US signed a bill banning TikTok. The move comes a couple of days after US President Joe Biden signed into law a bill that threatened the social media’s existence in the US, requiring ByteDance to either divest its stake in the app or see it banned. However, unabated Tiktok owner ByteDance stated that it prefers to shut down, rather than sell the application.
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