Averting the National Threat of Internet Surveillance, Oppressive Censorship and Influence, and Algorithmic Learning by the Chinese Communist Party Act

This bill requires the President to impose property-blocking sanctions on TikTok, its parent company ByteDance Ltd., and larger social media companies with ties to certain foreign countries.

Specifically, the sanctions shall apply if the relevant property interests are (1) in the United States; or (2) in the possession or control of a U.S. person, if blocking the transaction is necessary to prevent the company's commercial operation in the United States.

These sanctions shall also apply to larger social media companies involved with countries or persons (entities or individuals) of concern, generally defined as any foreign government or person engaged in activities adverse to U.S. security and safety and includes specific countries such as China, Russia, and North Korea. For the purposes of this bill, a person of concern also includes private companies and individuals domiciled in a country of concern and subject to the substantial influence of the government.

Specifically, in addition to TikTok and ByteDance, the sanctions shall apply to any social media company

- that is based in or organized under the laws of a country of concern;

- where a country or person of concern owns 20% of its outstanding voting stock or shares;

- that uses software or algorithms controlled by a country or person of concern, including through export controls; or

- where a country or person of concern has substantial influence over the company's data sharing or content moderation practices.