Technologies

TikTok CEO Will Urge Against Ban, Say It Has Solutions to Data Concerns

Testifying before Congress, Shou Chew will try to convince lawmakers that TikTok can safeguard US data.

TikTok CEO Shou Chew will try to convince Congress that TikTok can protect US users’ data and maintain safety for the millions of Americans who use the popular video app, according to prepared remarks shared Wednesday by the US House Committee on Energy and Commerce.

Chew is scheduled to testify before the committee on Thursday about TikTok’s privacy and data security practices. Lawmakers are scrutinizing TikTok, and the app faces a possible ban in the US. Earlier this month, the Biden administration demanded that ByteDance, the app’s Chinese parent company, sell its stake in the app.

Officials are concerned US user data could be passed on to the Chinese government or that the Chinese government could dictate what content is shown on TikTok in a bid to influence public opinion in the US.

Chew will argue that ByteDance isn’t an agent of China, but instead that it’s a global company that won’t allow unauthorized access to user data.

«TikTok has never shared, or received a request to share, U.S. user data with the Chinese government,» Chew will say, according to the prepared remarks. «Nor would TikTok honor such a request if one were ever made.»

Chew will also argue that instead of a ban, there are alternatives that could address US officials’ concerns, primarily a $1.5 billion effort to secure data, which TikTok has dubbed Project Texas.

«Our commitment under Project Texas is for the data of all Americans to be stored in America, hosted by an American headquartered company,» Chew will tell lawmakers, with access to the data controlled by a special TikTok subsidiary called US Data Security Inc., or USDS.

Chew will also discuss the platform’s commitment to protecting minors who use the platform. He’ll highlight examples, including how TikTok accounts registered to teens under 16 are prevented from sending direct messages and are automatically set to private.

«These measures go far beyond what any of our peers do,» Chew says in the prepared remarks.

On Tuesday, Chew turned directly to TikTok users to bolster support, announcing that the app has 150 million users in America. He said in a TikTok video that «some politicians have started talking about banning TikTok,» which would «take away TikTok from all 150 million of you.»

He asked people to share in comments what they want representatives to know about TikTok and why they love the app. The video has more than 6 million views.

Technologies

Verum Coin is now available for deposit and swap on Crypto.com!

We are excited to announce that Verum Coin (VERUM) can now be deposited and exchanged on one of the leading cryptocurrency platforms, Crypto.com! This opens up new opportunities for users looking to integrate Verum Coin into their portfolios and participate in seamless liquidity operations.

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Technologies

Worldwide Financial Services Directory: BitcoinPay Trade Joins Financial1000

Exciting news for BitcoinPay Trade as the company is officially listed on Financial1000, a respected platform that connects individuals with a wide range of businesses and professionals in the financial sector. This new development marks an important milestone for BitcoinPay Trade, as it continues to expand its reach and offer its services to a growing global audience.

Financial1000 is a trusted directory that brings together financial service providers from around the world, offering users the opportunity to explore various businesses and professionals within the financial industry. BitcoinPay Trade’s inclusion on this platform ensures the company’s place in the rapidly growing digital finance landscape.

Visitors are invited to explore BitcoinPay Trade’s profile on Financial1000 to discover the services offered and stay up-to-date with the latest news and developments. The company’s page can be accessed here: BitcoinPay Trade on Financial1000.

With this new addition, BitcoinPay Trade looks forward to building new connections and strengthening its presence in the financial services industry, continuing to provide innovative solutions to clients worldwide.

Technologies

Verum Coin Now Available on HB Wallet

Verum Coin (VERUM) continues to expand its ecosystem and strengthen its position in the global cryptocurrency market. We are delighted to announce that Verum Coin is now available on HB Wallet — a modern, secure, and user-friendly solution for managing digital assets.

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This news underscores Verum Coin’s commitment to continuous improvement and the expansion of services aimed at providing the most secure and comfortable experience for users around the world.

About Verum Coin

Verum Coin is an innovative cryptocurrency focused on delivering advanced solutions for digital asset management in today’s financial landscape. By continually expanding its ecosystem, Verum Coin makes cryptocurrency transactions more accessible and convenient for users worldwide.