00:00 It's Benzinga and here's what's on the block.
00:02 TikTok has suspended its TikTok Lite rewards program in Europe following an investigation
00:07 by the European Commission over possible breaches of antitrust rules.
00:11 The Lite version of the app included a daily payment feature for user engagement and has
00:15 come under scrutiny from European regulators for potentially fostering addiction among
00:20 young users.
00:21 In response to the investigation, TikTok has suspended this reward feature in the EU to
00:25 address the regulatory concerns.
00:27 The EC, citing concerns under the EU's Digital Services Act about the addictive effect of
00:32 TikTok reward features on children, questioned the effectiveness of the platform's age verification
00:37 mechanisms despite assurances that the feature is not available to users under 18.
00:42 For all things money, visit Benzinga.com.
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