Finance

TikTok Ends 'Lite' Rewards in EU Amid Tech Regulation Compliance

Aug 5, 2024 1 min read

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ByteDance's TikTok has permanently withdrawn its TikTok Lite rewards programme from the European Union to comply with the EU's Digital Services Act (DSA). The DSA mandates that large online platforms report potential risks of new functionalities to the EU before they are launched and adopt measures to address these issues. This decision follows the EU's demand for an immediate risk assessment regarding the app's potential impact on children and users' mental health.

TikTok has made legally binding commitments to withdraw the rewards programme and avoid launching any similar programmes that would circumvent this decision. An investigation into TikTok's potential breaches of online content regulations, particularly concerning the protection of children and transparent advertising, is ongoing. This investigation could result in fines if violations are confirmed.

#markets #european-union #tech

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