US President Joe Biden signed a bill into law Wednesday giving ByteDance nine months to sell TikTok — with a possible three-month extension if a deal is in the works — or face removal from US Apple and Google app stores.

"ByteDance has no plans to sell TikTok," the company said Thursday on Toutiao, a Chinese social media platform it also owns.

ByteDance also said there was "no truth" to reports that it was exploring options to sell TikTok without the app's algorithm.

Earlier this week, TikTok said it would file a lawsuit to block the legislation, which it called unconstitutional.

"We will continue to fight for our rights in court. The facts and the law are on our side and we expect to prevail," TikTok's Singaporean-born CEO Shou Zi Chew said Thursday.

With its short-form videos, TikTok, which has attracted more than 1.5 billion users worldwide, has faced years of scrutiny in the United States and Europe over concerns it can be addictive for teens.

On Wednesday, TikTok suspended a feature that rewarded screen time over addiction concerns, after the European Commission opened an investigation and threatened to ban the app.

Republicans have also accused the video-sharing platform of allowing Beijing to spy on and manipulate Americans.

That's because a 2017 Chinese law requires domestic companies to hand over any personal data that could be relevant to national security if requested by authorities.

On Saturday, TikTok said a US ban would "violate the First Amendment rights of its 170 million users in the country.

The app's spokesperson added in an email to AFP that the law would "devastate seven million small businesses and close off a platform that contributes $24 billion a year to the US economy."

The potential TikTok ban was included as a concession to Republicans in exchange for their support for a new $61 billion military aid package for Ukraine.

In late March, Taiwan, which had already banned TikTok on government-issued devices, labeled the platform a "national security threat" due to "substantial control" by "hostile foreign forces."

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