Former U.S. treasury secretary Steven Mnuchin said Thursday he is going to put together an investor group to try to buy TikTok, a day after the House of Representatives voted to ban the popular video app in the U.S., if its China-based owner doesn’t agree to sell it.

Former US President Donald Trump’s Cabinet member, Mnuchin, stated on CNBC that TikTok, which has over 170 million American users, should be owned by American businesses. He also added that the Chinese government would not allow a US company to own such a platform in China.

Mnuchin did not provide any information regarding the potential composition of an investor group or the estimated value of TikTok. TikTok is currently a subsidiary of the Chinese tech company ByteDance Ltd.

The House, responding to worries about the potential danger to national security with the current ownership and use of TikTok in the U.S., approved a vote of 352-65 to call for its sale. The future of this decision in the Senate is unclear.

The Senate has stated they will carefully examine the legislation that was passed by the House. Senate Majority Leader Chuck Schumer has also mentioned the need to speak with appropriate committee heads in order to decide the course of action for the bill.

President Joe Biden has declared that he will sign the measure if it is passed by Congress.

TikTok has rejected allegations that it can be utilized as a means of control by the Chinese government. The company maintains that it has never disclosed information of American users to Chinese officials and will not comply if requested. Furthermore, the U.S. government has not presented proof to support claims of TikTok sharing data with Chinese authorities.