This bill would give the President power to block and freeze the assets of TikTok and its parent company ByteDance, as well as other large social media platforms that have connections to countries considered threats to the U.S.—mainly China, Russia, and North Korea. The goal is to prevent these companies from operating in America by targeting any money or property they have in the U.S. or that belongs to American people or companies.

The bill casts a wide net beyond just TikTok. It would apply to any major social media company that is based in a country of concern, has significant ownership from those countries (20% or more), uses software or algorithms controlled by those governments, or is substantially influenced by them when it comes to handling user data or deciding what content to show. This means the sanctions could potentially affect multiple platforms, not just Chinese-owned ones.

In practical terms, if this bill became law, it could effectively shut down TikTok's operations in the U.S. by preventing it from accessing its money and doing business here. The same could happen to other social media companies meeting these criteria. The concern behind the bill is that these platforms could be used for surveillance, censorship, or spreading propaganda that harms American interests, though the bill doesn't require proof of actual wrongdoing—just the potential for influence by a foreign government.

ANTI-SOCIAL CCP Act

Rubio, Marco

Averting the National Threat of Internet Surveillance, Oppressive Censorship and Influence, and Algorithmic Learning by the Chinese Communist Party Act or the ANTI-SOCIAL CCP Act This bill requires the President to impose property-blocking sanctions on TikTok, its parent company ByteDance Ltd., and larger social media companies with ties to certain foreign countries. Specifically, the sanctions shall apply if the relevant property interests are (1) in the United States; or (2) in the possession or control of a U.S. person, if blocking the transaction is necessary to prevent the company's commercial operation in the United States. These sanctions shall also apply to larger social media companies involved with countries or persons (entities or individuals) of concern, generally defined as any foreign government or person engaged in activities adverse to U.S. security and safety and includes specific countries such as China, Russia, and North Korea. For the purposes of this bill, a person of concern also includes private companies and individuals domiciled in a country of concern and subject to the substantial influence of the government. Specifically, in addition to TikTok and ByteDance, the sanctions shall apply to any social media company <ul> <li>that is based in or organized under the laws of a country of concern; </li> <li>where a country or person of concern owns 20% of its outstanding voting stock or shares; </li> <li>that uses software or algorithms controlled by a country or person of concern, including through export controls; or</li> <li>where a country or person of concern has substantial influence over the company's data sharing or content moderation practices.</li> </ul>