TikTok Facing Threat of EU Fines in Digital Content Clampdown
- EU fears ByteDance-owned platform poses risk to minors
- Investigation could lead to fines of up to 6% of annual sales
Signage at the TikTok Inc. offices.
Photographer: Ore Huiying/BloombergThis article is for subscribers only.
TikTok owner ByteDance Ltd. risks heavy European Union penalties under tough new content rules for Big Tech after regulators announced a formal investigation into its alleged failure to protect minors who use the video-sharing platform.
EU Internal Market commissioner Thierry Breton announced Monday that TikTok will face a formal investigation under the bloc’s flagship Digital Services Act — which empowers regulators to levy fines of as much as 6% of annual sales, or ban repeat offenders from the EU.