Elon Musk Says TikTok Bill 'Far Too Broad': 'It Will Be Abused In The Future'

Billionaire owner of social media platform X, Elon Musk has criticized the proposed TikTok bill, warning that it could be misused in the future.

What Happened: Musk took to X, formerly known as Twitter to express his concerns about the proposed legislation. He believes that the bill if passed, could be exploited in the future.

The bill, known as H.R. 7521, aims to ban “foreign adversary controlled applications” from operating in the U.S., including those owned by ByteDance or TikTok, as well as other social media platforms with over 1 million monthly active users.

Musk’s comments come amid a growing debate about the potential ban of TikTok in the U.S. The bill, which was recently approved by the U.S. House of Representatives, could force ByteDance to sell TikTok or face a ban in the U.S.

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Why It Matters: The proposed TikTok bill has sparked a flurry of reactions from various quarters. Former President Donald Trump recently expressed his opposition to the ban, a surprising move given his previous stance. Meanwhile, the bill has also triggered speculation about a potential bidding war for TikTok, with several potential buyers emerging.

On the other hand, some public figures, such as entrepreneur and investor Mark Cuban, have voiced support for the ban, citing concerns about foreign governments’ influence on children’s screens.

While the bill has yet to be passed by the Senate and signed by President Joe Biden, it has already had a significant impact on the market. The news of the potential sale or U.S. ban has led to a surge in the stock prices of rival social media platforms, such as Meta Platforms Inc META.

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Tesla CEO Elon Musk. Photo via Shutterstock.