Former Treasury Secretary Mnuchin is putting together an investor group to buy TikTok

Former Treasury Secretary Steven Mnuchin is building an investor group to acquire ByteDance’s TikTok, as a bipartisan piece of legislation winding its way through Congress threatens its continued existence in the U.S.

The House of Representatives on Wednesday passed a bipartisan bill that if signed into law would force ByteDance to either divest its flagship global app or face an effective ban on TikTok within the U.S.

“I think the legislation should pass and I think it should be sold,” Mnuchin, who leads Liberty Strategic Capital, told CNBC’s “Squawk Box” on Thursday. “It’s a great business and I’m…