TikTok Makes Effort to Avoid EU Fine Under New Digital Rules [BNN Bloomberg (Canada)]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: BNN Bloomberg
The company said in a statement it met a deadline to hand over the document, after the EU's Monday decision to open a probe into the launch in France and Spain under its new Digital Services Act. Regulators contend that TikTok Lite, which includes a rewards system for users, could be addictive to young people, and claimed the company didn't complete a full risk assessment in time. Aside from the risk assessment, officials set a April 24 deadline for the company to defend itself against the threatened suspension of the rewards program “pending the assessment of its safety.” The social media giant runs the risk of fines of up to 1% of its total annual income, or periodic penalties of up to 5% of its average daily income for failing to comply with the DSA. Read More: TikTok Ready to Fight US Ban With 170 Million Users at Stake TikTok is also facing increased pressure on the other side of the Atlantic. The US House of Representatives on Saturday put legislation requiring the ap
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