TikTok Faces Fine Over €500 Million
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Bloomberg |
Ireland’s data protection commission, the company’s main regulator in Europe, will issue the penalty against TikTok before the end of the month, according to people familiar with the matter.
Reuters |
A startup run by Tim Stokely, founder of adult content social media site OnlyFans, has partnered with a cryptocurrency foundation to submit a late-stage plan to acquire short video app TikTok from Ch...
Reuters |
Bidders for the short video social media company are piling up, as the weekend deadline for TikTok to find a buyer approaches.
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TikTok will reportedly face a fine of over €500 million ($553 million) for transferring Europeans' private data to China. Bloomberg said on Thursday that Ireland's data protection commission, which regulates TikTok owner ByteDance's EU operations,
Ireland's data protection commission, the company's main regulator in Europe, will issue the penalty against TikTok before the end of the month
ByteDance Ltd., the owner of TikTok, is facing a hefty fine exceeding 500 million euros for illegally transferring European users' data to China.
TikTok's set to be hit with a $552 million penalty just as it takes its next steps in separating EU user data.
The impending fine comes as ByteDance faces an April 5 deadline to find a buyer for TikTok’s US operations or see the app banned in the country. Amazon.com Inc. became the latest big name to jump into the fray,