Commerce Dept. issues order prohibiting WeChat, TikTok dealings - MarketWatch

The U.S. Commerce Department said Friday it is prohibiting transactions involving Tencent's 700, -0.38% WeChat and Bytedance's TikTok. "While the threats posed by WeChat and TikTok are not identical, they are similar. Each collects vast swaths of data from users, including network activity, location data, and browsing and search histories," the release said. As of Sept. 20, any provision of service to distribute or maintain the WeChat or TikTok mobile applications, constituent code, or application updates through an online mobile application store in the U.S. is barred, as is any provision of services through the WeChat mobile application for the purpose of transferring funds or processing payments within the U.S. The order makes no mention of the Oracle ORCL, -0.41% deal with TikTok but said "the President has provided until November 12 for the national security concerns posed by TikTok to be resolved."

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2020-09-18 12:01:00Z
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