The surged adoption of cryptocurrencies has been primarily derived from several media forms including TikTok and a few others. As per available data, TikTok caters to around 1 billion users, with more than 5 billion globally.
It is worth noting that TikTok is expected to face a ban in the United States because of Joe Biden’s recent bill.
The push to ban TikTok in the U.S. stems from concerns about data privacy. U.S. officials fear that the Chinese government could force ByteDance, the China-based company behind TikTok, to share sensitive data about American users.
Some lawmakers are calling for a ban, worried that the information could be misused for espionage or other harmful purposes.
The timetable might be slowed by several hurdles. For starters, TikTok’s intention to challenge the measure in court may cause the proceedings to go on.
The decision may also be influenced by public opinion and the millions of users who have voiced their worries. It may take a long time for things to happen because of these considerations.
Is TikTok banned in other nations?
There are dozens of nations that have already banned the usage of TikTok, yet India is among the nations that have restricted the usage of the platform in the nation. When writing it is clear that Tik Tok the widely popular platform is expected to face severe criticism in the United States with a possible ban over its usage.
Nations like Pakistan, Afghanistan, Somalia, and Albania have already restricted the usage of TikTok in the region after the platform failed to meet the guidelines of the nations.
Although TikTok is still accessible to the general public in the United States, certain states and government organizations have banned it from being used on official devices due to security concerns about potential foreign influence.
TikTok isn’t the only app that gathers a lot of data, though, so keep that in mind. Users’ location and browsing patterns are also collected by well-known websites like Facebook, Instagram, and YouTube in order to enhance their offerings and display relevant advertisements.
Is crypto being embraced using TikTok?
Many users utilize TikTok’s innovative and captivating style to spread awareness, education, and acceptance of cryptocurrencies, making it a prominent platform for the cryptocurrency community. In order to create a community and increase engagement, educators and crypto influencers are offering their knowledge, advice, and observations.
Additionally, educational materials are being produced that provide an understandable explanation of blockchain technology, market movements, and crypto fundamentals.
During the global pandemic, TikTok was one of the most used platforms to embrace the usage of cryptocurrencies and other such blockchain-based products, yet Bitcoin remains one of the most adopted cryptos worldwide.
When writing, the cryptocurrency market capitalization was at $3.3 trillion with an intraday decline of 1.0 percent at the same time Bitcoin was trading at $94,149 with a subtraction of 1.09 percent.
However Dogwifhat, Injective, and THORchain remain as the intraday losers, followed by Monera, Helium, and Maker which added an average of 5 percent to their prices.
