TikTok Will Pay $400 Million to Settle DOJ Child Privacy Lawsuit The recent settlement between TikTok and the US Department of Justice over allegations of violating the Children's Online Privacy Protection Act (COPPA) is a harsh reminder that even the most popular social media platforms cannot always ignore federal regulations.
Many have praised the hefty fine as a much needed crackdown on tech companies, while others see it as a mere slap on the wrist.
The $400 million settlement is roughly 1% of TikTok's projected annual revenue for this year alone. It remains to be seen whether the settlement will have any long term impact on the company's business practices.