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US Treasury seeks ‘resolution’ with ByteDance on stability problems – Hottest News

The U.S. Treasury Department mentioned it would like to achieve a resolution of nationwide stability hazards it has raised about ByteDance‘s 2017 acquisition on Musical.ly, which it then merged into the TikTok video clip-sharing application.

The statement came a day right after China-based mostly ByteDance filed a petition with the U.S. Court of Appeals in Washington complicated a Trump administration purchase set to take effect on Thursday necessitating it to divest TikTok.

The Treasury Department stays concentrated on reaching a resolution of the countrywide stability pitfalls arising from ByteDance’s acquisition of Musical.ly,” Treasury spokeswoman Monica Crowley said. “We have been crystal clear with ByteDance about the measures essential to achieve that resolution.”

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