Bill with possible TikTok ban signed by Biden

The parent company of TikTok now has up to one year to sell the popular social media platform in the United States or risk facing a ban, following President Biden's signing of a bill into law Wednesday morning due to national security concerns.

What's expected to happen next is a lawsuit to block the forced sale or ban from going into effect:

In an earlier announcement, TikTok's CEO Shou Chew vowed to fight the law in court.

"This is a ban! A ban on TikTok, a ban on you and your voice," Chew claimed.

TikTok boasts 170 million users in the U.S., with ByteDance having offices across the nation but headquartered in Beijing.

U.S. lawmakers and security experts assert that the company's ties to the Chinese government are too close, raising concerns about data privacy and potential influence over TikTok's U.S. users.

Ahmed Banafa, a San Jose State University engineering professor, expressed concerns over data accessibility to the Chinese government, stating, "The fear is, this data is available and the Chinese government can have access to that. Worst-case scenario is, we have an election year coming - a deep fake video, misinformation - any of that could have an impact."

The law signed by Biden this morning is part of a larger aid package to Ukraine, Israel, and Taiwan.

The TikTok portion gives ByteDance up to one year to sell the app to a non-Chinese company. Failure to do so would result in the inability to update or download the app onto U.S. phones.

A lawsuit could potentially delay this deadline.

Chew reassured users on Twitter, stating, "Rest assured, we aren't going anywhere. We will keep fighting for your rights in the courts. The facts and the constitution are on our side."

"I don't think it should be banned, but I think there should be some restrictions put on it to make it safer to use for our youth," said Kelly Cayabyab, a TikTok user. "If it's used properly, it can be such an educational tool."

Legal questions surrounding TikTok's classification as an educational tool or entertainment source will be addressed.

"There is data and stats out there that 30 percent of youth under 30 get all of their news from TikTok," said tech and business journalist Shibani Joshi. "There's reason to classify it as a news outlet… It's the intersection of business and politics and social media and this is all new terrain."

Several other nations already have partial or full bans on TikTok, with India prohibiting its operation within its borders.

Supporters of the new law argue it's akin to how the Chinese government treats U.S. social media companies, such as Facebook, Instagram, and others, which are not permitted to operate in China.