TikTok's status in the United States remains uncertain. Recently, the Committee on Foreign Investment in the United States (CFIUS) granted parent company ByteDance yet another extension to find a buyer. That period has come and gone, but according to Bloomberg, that won't matter much in the interim.
Bloomberg's sources claim that TikTok won't be banned or assigned a new deadline. TikTok will continue talks with the US government to meet the prerequisites in place for a buyer. That means the video platform is essentially in limbo for now.
"The Committee is engaging with ByteDance to complete the divestment and other steps necessary to resolve the national security risks arising from the transaction, consistent with the President’s August 14 Order," a Treasury spokesperson said in a statement.
This situation has been ongoing since August. President Donald Trump called ByteDance and its TikTok app a threat to national security. His administration ordered ByteDance to sell its US-based business. The US Commerce Department then pushed an order to block TikTok downloads in the US, which did not come to pass.
Following his declaration, Trump gave preliminary approval of a special deal between Walmart and Oracle to create the US-based entity known as "TikTok Global." But not much has happened since then, except for several delays in banning TikTok from US app stores.
The latest deadline to come and go was Dec. 4. It’s unclear how long TikTok will remain in this holding pattern. Currently, the app is still available to download and use as normal.