TikTok’s casino-like virtual currency harms children, DC AG alleges

The U.S. House of Representatives has passed a bill giving TikTok’s Chinese owner ByteDance six months to divest its U.S. assets or face a ban. Among the allegations against TikTok is the abusive use of its virtual currency, TikTok Coins, which children can buy with real money and use to purchase digital gifts. A lawsuit filed by the attorney general for the District of Columbia claims TikTok is exploiting children financially through this system. TikTok denies the claims, but experts warn about the potential harm to children and the need for regulation in the online marketplace.