Ex-US Treasury Department chief assembles investor group to buy TikTok

Former U.S. Treasury Secretary Steven Mnuchin is gathering a group of investors to acquire the social network TikTok.

“I think a bill to possibly ban TikTok should be passed. And I think TikTok should be sold. It’s a great business, and I plan to put together a group to buy TikTok,” he said.

Earlier, the U.S. House of Representatives supported a bill to possibly ban TikTok. Lawmakers propose to give Chinese operator ByteDance six months to sell the social network, otherwise a ban on TikTok in the US could follow.

Congress has also proposed the same restrictive measures for any “adversary-controlled apps” in the future.

The initiative will then be sent to the US Senate for consideration. US President Joe Biden earlier said he would sign the bill if it is approved by lawmakers.

Read also: Congressmen backed a bill to possibly ban TikTok in the country