Looking for an exclusive latest update about tik tok and wechat US antitrust bill? If yes, then here we are going to depict everything. On Thursday, a Senate Council of the United States will consider an antitrust law centered on technology, which will be extended to incorporate China’s two most prominent social media organizations–an amendment aimed at countering the criticism that the law would benefit overseas digital companies.
The bill’s standard for eligible platforms will be extended to include companies with a global monthly user base of $1 billion and annual revenue of $550 billion. The current market has a $550 billion capitalization threshold. ByteDance Ltd.’s TikTok and Tencent Holdings Ltd.’s WeChat would be seized because of these new bill standards.
ByteDance’s most famous worldwide service is TikTok. It has dazzled teens from the United States to Southeast Asia, while Tencent’s WeChat is a big part of life, installments, and social media platform for more than a billion groups – in China. A representative from Tencent denied commenting, while ByteDance didn’t quickly react to the appeal to give remarks.
Technology giants in the U.S. have warned that the bill would put complex limitations on American technology and harm clients’ privacy and security. The new law would forbid alleged guardian firms from benefiting their item by promoting them through their online platforms, as of now applies to Apple Inc, Amazon.com Inc, Meta Platforms Inc, and Alphabet Inc’s Google.