China Says US Spreading Disinformation, Suppressing TikTok

The TikTok logo is pictured outside the company's US head office in Culver City, California, US, September 15, 2020. REUTERS/Mike Blake
The TikTok logo is pictured outside the company's US head office in Culver City, California, US, September 15, 2020. REUTERS/Mike Blake
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China Says US Spreading Disinformation, Suppressing TikTok

The TikTok logo is pictured outside the company's US head office in Culver City, California, US, September 15, 2020. REUTERS/Mike Blake
The TikTok logo is pictured outside the company's US head office in Culver City, California, US, September 15, 2020. REUTERS/Mike Blake

China accused the United States on Thursday of spreading disinformation and suppressing TikTok following reports that the Biden administration was calling for its Chinese owners to sell their stakes in the popular video-sharing app.

The US has yet to present evidence that TikTok threatens its national security and was using the excuse of data security to abuse its power to suppress foreign companies, Foreign Ministry spokesperson Wang Wenbin told reporters at a daily briefing.

“The US should stop spreading disinformation about data security, stop suppressing the relevant company, and provide an open, fair and non-discriminatory environment for foreign businesses to invest and operate in the US,” Wang said.

TikTok was dismissive Wednesday of a report in The Wall Street Journal that said the Committee on Foreign Investment in the US, part of the Treasury Department, was threatening a US ban on the app unless its owners, Beijing-based ByteDance Ltd., divested.

“If protecting national security is the objective, divestment doesn’t solve the problem: A change in ownership would not impose any new restrictions on data flows or access,” TikTok spokesperson Maureen Shanahan said.

Shanahan said TikTok was already answering concerns through “transparent, US-based protection of US user data and systems, with robust third-party monitoring, vetting, and verification.”

The Journal report cited anonymous “people familiar with the matter.” The Treasury Department and the White House’s National Security Council declined to comment.



Decision on Digital Pound over Two Years Away, Bank of England Says

A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
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Decision on Digital Pound over Two Years Away, Bank of England Says

A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo

No decision will be made for at least a couple of years on whether Britain will go ahead with a central bank digital currency for the general public, the Bank of England said on Tuesday, pushing back the timeline for the project.

Former Prime Minister Rishi Sunak championed the idea of a digital currency in 2021 when he was finance minister, but the BoE and the current government have been more reluctant and a public consultation attracted widespread privacy concerns.

Governor Andrew Bailey said in October that a central bank digital currency was "not my preferred option" but might be needed if British banks did not ensure their payment systems were more attractive than those offered by less regulated tech companies, Reuters reported.

The BoE said on Tuesday it was starting work with Britain's finance ministry on a potential design for a digital currency, in line with plans in a previous consultation.

"After completing the design phase over the next couple of years, including taking account of developments in the wider payments landscape, the Bank and government will assess the policy case for a digital pound and determine whether or not to proceed," the BoE said.

In January 2024, the BoE said a decision on whether to go ahead with a digital currency would not be made before 2025 at the earliest.

Britain's government has said a digital pound would be private but not anonymous, unlike physical cash.

As with existing bank accounts and credit card payments, authorities would be able to track transactions they suspect involve money laundering or finance terrorism.

"This legislation would safeguard users' privacy, guaranteeing that neither the Bank nor the government could access users' personal information nor control how households and businesses use their money," the BoE said.