00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The U.S. Justice Department said federal employees may once again download TikTok on
00:07government-issued devices after determining the app no longer poses the national security
00:12risks behind a 2022 ban. In a memorandum addressed to President Donald Trump, the department cited
00:18ByteDance's restructuring of TikTok's U.S. operations into TikTokUSDS, which controls
00:23U.S. user data and operations. The memo said,
00:26executive branch agencies may allow employees to download TikTok on official devices at their
00:31discretion and in line with workplace policies. American and global investors own 80.1% of the
00:37joint venture, while ByteDance retains 19.9%. TikTok said the venture will retrain and secure
00:44its recommendation algorithm using U.S. user data on Oracle's cloud infrastructure.
00:49The move follows Trump's decision not to enforce a 2024 law requiring ByteDance to divest TikTok's
00:55U.S. assets or face a nationwide ban. For all things money, visit Benzinga.com.
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