TikTok sued over teen addiction, virtual currency [Video]

A bipartisan group of more than a dozen state attorneys general is filing lawsuits Tuesday against social media giant TikTok, with one complaint accusing the company of deceiving users by claiming that its app is safe for children despite its “addictive” features, and of allegedly operating an unlicensed money transmission business.

The states filing suit include New York and California, as well as the District of Columbia.

“Our lawsuit is seeking to hold TikTok accountable for harming D.C. children,” said Attorney General Brian Schwalb of the District of Columbia, in an interview with CNBC.

Schwalb’s suit alleges a slew of “profound” mental health risks are posed to teens and children by compulsive TikTok use, including depression, anxiety, sleep loss and body dysmorphia.

Schwalb called the app — which allows users to create, share and view short-form videos — “digital nicotine” and said that TikTok is “intentionally trying to addict young people to its …