ByteDance is said to be building a new, US-only version of the TikTok app that it will release on September 5. According to The Information, the company is moving ahead with this plan to comply with legislation requiring it to sell its TikTok business in the US or face a nationwide ban.

STORY: TikTok is reportedly building a new version of its app for users in the U.S.That's ahead of a planned sale to a group of investors.The Information reported the news on Sunday, citing unnamed sources.

TikTok is developing a brand new version of its app for US users amid a looming ban of the hugely popular video sharing platform, according to reports. The Chinese-owned app risks being banned in the US in September if its parent company ByteDance does not sell it to an American owner.