President Biden has signed a bill that would ban TikTok if its owner, ByteDance, doesn’t sell it within a year. The bill includes aid for Ukraine and Israel. U.S. Senators passed the bill 79-18 on late Tuesday after the House passed it with overwhelming majority over the weekend.

In an emailed statement to TechCrunch, TikTok said it would challenge the bill in court.

“We believe the facts and the law are clearly on our side, and we will ultimately prevail,” the statement reads. “The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation. This ban would devastate 7 million businesses and silence 170 million Americans.”

This story is developing…