TikTok is back, at least temporarily. After shutting down Saturday night into Sunday, the app was granted a 75-day reprieve from enforcement of a federal law banning TikTok in the U.S. unless it separates from its Chinese-owned parent company, ByteDance.
President Donald Trump signed an executive order after being sworn in on Monday.
“The unfortunate timing of section 2(a) of the Act — one day before I took office as the 47th President of the United States — interferes with my ability to assess the national security and foreign policy implications of the Act’s prohibitions before they take effect,” the executive action said.
“This timing also interferes with my ability to negotiate a resolution to avoid an abrupt shutdown of the TikTok platform while addressing national security concerns.”
The fate of TikTok remains in doubt, however, as its long-term survival appears to hinge on the platform divesting itself from its Chinese owner. It is unclear whether ByteDance will agree to sell to an American company or one affiliated with an ally.
Trump told reporters he has the right to “sell it or close it,” CNN reported.
Several mortgage influencers have built large followings on the platform by posting short, informational videos.
“It’s been a really integral part of my business,” said Mandy Phillips, who is known as “mortgage mandy” on TikTok to her 140,000 followers. Phillips told Scotsman Guide last week she was still holding out hope there would be a delay.
“Local Realtors and other local potential homebuyers have found me that way as well,” Phillips said. “So, it’s been helpful both nationally and locally.”
