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President Donald Trump said Friday night that he is going to ban the Chinese video streaming app TikTok through emergency economic powers or through an executive order, CNN reported.

“As far as TikTok is concerned, we’re banning them from the United States,” Trump told reporters while aboard Air Force One, the report noted.

“I have that authority,” he added.

The president’s remarks came after a Bloomberg report Friday indicated that Trump will order TikTok’s parent company, ByteDance, to divest from the popular social media app.

The White House has not responded to the Daily Caller News Foundation’s request for comment about how such a ban would take place. (RELATED: Trump Admin Is Seriously Considering Banning TikTok And Other Chinese Apps, Pompeo Says)

Trump’s apparent decision to ban the app also comes after weeks of speculation about what the president would do about the app, which has raised national security concerns.

This photo taken on November 21, 2019, shows the logo of the social media video sharing app Tiktok displayed on a tablet screen in Paris. (Lionel BONAVENTURE / AFP) (Photo by LIONEL BONAVENTURE/AFP via Getty Images)

“We are taking this very seriously. We are certainly looking at it,” Secretary of State Mike Pompeo told Fox News in a July 7 interview after being asked about whether Trump is making a move against the company.

National security experts warn that TikTok, Huawei, and other Chinese tech companies are risks to the U.S.

Americans should download the app “only if you want your private information in the hands of the Chinese Communist Party,” Pompeo suggested during the interview.

U.S. officials have so far not found evidence that TikTok is providing personal user data to the Chinese Communist Party.

The company is under national security review, Reuters reported Wednesday, citing comments U.S. Treasury Secretary Steve Mnuchin made to reporters.

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Bitcoin : Russia passes law banning cryptocurrency payments

The law prohibits payments in cryptocurrency

According to Russian media RT, Vladimir Poutine signed a first cryptocurrency bill on Friday.

The law gives legal status to cryptocurrencies and aims to regulate their use in Russia. The bill was approved by the Duma and the Federation Council. It will come into force on January 1, 2021.

This law gives a precise legal definition of cryptocurrencies as “an aggregate of electronic data that cannot be accepted as a means of payment.” “It is specified:

“Cryptocurrency cannot be used to pay for goods and services, as it is not the currency unit of the Russian Federation. “

The law also states that companies can issue cryptocurrencies if they are duly registered with the Bank of Russia and meet certain criteria.

???? To read on the same subject: Russia: the oil industry could be “tokenized” if the regulations allow it

A more detailed bill in preparation

The law specifies that natural and legal persons in Russia will not be able to litigate disputes relating to cryptocurrency transactions. If the owners want to be covered by justice, the latter must first declare the amount of cryptocurrency they hold.

In addition, the law stipulates that security tokens can be viewed as digital rights giving rise to debt and governance rights. These assets can be sold, bought and stored.

A number of cryptocurrency-related terms were excluded from the final bill after second reading, such as “token” and “mining”. Anatoly Aksakov, head of the Duma’s finance committee, explained that more detailed regulations on cryptocurrencies are under consideration and will be included in a second bill.

The previous version had caused a lot of criticism. Indeed, the first version planned to ban cryptocurrency trading. Despite restrictions on cryptocurrency payments, Russia appears to have softened its rhetoric.

???? To read on the same subject: In Russia, illegal crypto trading could cost up to 7 years in prison

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About the Author : Florent David

I started to discover the basics of blockchain and Bitcoin technology with Satoshi Nakamoto’s post: A Peer-to-Peer Electronic Cash System. The disruptive and controversial aspect of the subject quickly fascinated me!
All articles by Florent David.

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