The news comes as a law banning TikTok, which is owned by Chinese firm ByteDance, is set to go into effect on Jan. 19.

“Our position on this has been clear: TikTok should continue to operate under American ownership. Given the timing of when it goes into effect over a holiday weekend a day before inauguration, it will be up to the next administration to implement,” read the statement.

The Chinese-owned company said it would cut off its services unless the U.S. assures Apple, Google and other companies that they would not be punished for hosting and distributing TikTok.

Even with any assurances from Donald Trump, companies like Apple, Google, and Oracle would be taking a risk by not complying with the TikTok ban.

Glenn Gerstell, Center for Strategic and International Studies senior advisor and former NSA general advisor, joins 'Squawk on the Street' to discuss Gerstell's perspective on the TikTok situation.

With the prospect of TikTok disappearing in the U.S., creators on the app spent the week posting heartfelt goodbyes to their fans.

TikTok says it plans to go offline on Sunday, January 19th if the Biden administration doesn’t intervene. The company confirms earlier reporting that it will be “forced to go dark” on the 19th unless the outgoing administration provides a “definitive statement” assuring its “most critical service providers” that they won’t be held liable for breaking the law.

TikTok issued an ultimatum, stating that without clarity from the outgoing Biden administration, it would be forced to "go dark" in the US.

Meta’s Instagram and Google’s YouTube are getting ready to welcome TikTok users, as the Supreme Court upheld a law that effectively bans the Chinese-owned app from the United States.

India’s 2020 crackdown helped give rise to Instagram Reels, which has largely replaced it there. But TikTok has proved more resilient elsewhere.

Discover how the TikTok ban affects U.S. users and the potential effect of the incoming Trump Administration on enforcing the ban.