Look if they have proven that the app of Tik Tok is spying on their users I think they have the right to ban it because first of all it is violating the privacy of its citizens and it is one of their first rights being a citizen, if the government doesn't act properly then they are basically not interested in protecting their rights. This is really not about the protection of their economy or the internet being regulated but the protection of their rights. And also I'm still wondering why these app stores like Apple and Google are still keeping Tik Tok available for download even if they have proven it spying to their users.
That is the most decent move that they can do, if the app does not properly and explicitly displays that they are taking data of individual users means that they are breaching the privacy, the case is similar to Facebook and other social media platforms but they atleast have the decency of making sure that the user is aware that they are collecting their data.
And also I'm still wondering why people are siding with a spyware app even if it is proven doing it, I guess still a lot of clout chasers will be affected in the US if the app was totally banned. But judging from the news I have been seeing there might be a chance that Tik Tok might not be banned in the US at all since their owner is interested in selling the US "portion" of their app/content to a foreign owner and Microsoft is the one strongly pursuing its acquisition, I think in this way both sides will have a win-win scenario removing any kind of doubt that the app will be spying in their citizens again.
Interesting if the purchase will go thru. Because if that will materialize, then banning it will not happen. But I guess, users themselves should be cautious on what they are sharing in this app. Millennials especially are too careless and lots of times, they share everything in social media. So in case something goes awry, it is only them to blame.