| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
European Commission president Ursula von der Leyen has suggested that a ban on TikTok in the EU is a possibility.
What Happened: Von der Leyen made the statement during a debate in Maastricht on Monday, where the lead candidates for the 2024 EU election were discussing various issues, reported Politico.
The moderator had referenced the situation in the U.S., where TikTok is facing a potential national ban after President Joe Biden signed the bill last week, unless its owner, ByteDance, sells the platform.
“It is not excluded,” von der Leyen said, before adding that the Commission was “the very first institution worldwide to ban TikTok on our corporate phones.”
“We know exactly the danger of TikTok,” she said.
See Also: Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.
Why It Matters: This statement comes amid a series of setbacks for TikTok in Europe. Last week, the platform suspended a feature that rewarded users for engaging with the TikTok Lite app, following an investigation by the Commission under the Digital Services Act or DSA.
TikTok is also under a separate DSA probe for alleged failures to protect minors. Under the DSA, the Commission has the authority to order the temporary suspension of a service as a last resort.
Meanwhile, TikTok’s parent company, ByteDance, has indicated a preference for a shutdown or ban over selling the platform in the U.S. In a video, TikTok CEO Shou Chew promised that the company would first fight the ban in court.
Some observers contend that implementing a ban could potentially advantage the primary competitors of the platform in the U.S., such as Meta Platforms, Inc. (NASDAQ:META) and Snap Inc. (NYSE:SNAP), both of which have members of Congress among their investors.
Photo by XanderSt on Shutterstock
Check out more of Benzinga's Consumer Tech coverage by following this link.
Read Next: Meta’s Chief AI Scientist Reveals Mark Zuckerberg Was ‘Snubbed’ From Biden’s AI Safety Institute; Elon Musk Also Missing From The List
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
