On Wednesday, April 24, VCPost reported that the US already approved the bill that mandates TikTok to change ownership or face a ban in the country after a few months of lobbying.

In response to the recently signed legislation, CEO Shou Zi Chew expressed confidence in the company's ability to overcome the restrictions through legal means, according to Yahoo Finance. 

To be specific, Chew pressed TikTok's commitment to challenging the legislation, stating, "Rest assured-we aren't going anywhere," and underlining their reliance on factual and constitutional grounds to prevail. 

READ NEXT: TikTok, ByteDance Spend Over $7 Million on Lobbying and Ads to Fight Potential US Ban

The Newly-Approved TikTok Ban Bill

The newly approved TikTok ban bill signed into law by President Joe Biden gives China-based ByteDance 270 days to divest TikTok's US assets or face a ban. Although several praised the move, it has also raised concerns among US lawmakers regarding data privacy and national security. 

Following this update, TikTok intends to continue operations while contesting the restrictions, setting the stage for a legal battle over First Amendment rights. 

The American Civil Liberties Union has criticized the potential ban, warning American citizens of its danger for government control over social media platforms. This sentiment was supported by ByteDance, with the company spending millions in producing ads to fight the TikTok ban in the country.

Nonetheless, legal experts anticipate that the legislation will strengthen the Biden administration's ability to enforce the ban if ByteDance fails to comply with divestment requirements.

READ MORE: ByteDance Investors Could Stand to Gain in TikTok Sale, US Lawmaker Claims