The world's fastest growing social media platform just cleared its last major legal hurdle for nearly half-a-billion dollars.

Federal prosecutors accused TikTok of collecting and keeping data from children without notifying parents or receiving consent.

TikTok and ByteDance will pay $400 million to settle DOJ allegations of violating children's online privacy laws under COPPA without admitting

TikTok is set to pay $300 million right away.