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New details were revealed Monday on the reported deal that will allow TikTok to continue operating in the U.S. President Donald Trump will sign an executive order this week declaring that the deal has met U.S. national security needs, according to a senior White House official. The order will include a 120-day extended enforcement pause to allow the deal to close. The proposal will transfer TikTok’s U.S. assets to a majority American ownership group with a majority of American investors and board.Under the proposed deal, the app’s algorithm will be operated in the United States and overseen by Oracle, the official said. Oracle and private equity firm Silver Lake will be among those investors. A full investor group has not yet been finalized, the official said.Determining next steps for the algorithm, currently owned by the Beijing-based ByteDance, has been one of the most closely watched issues during negotiations over TikTok's future. The TikTok algorithm determines what users see in their feeds and is a major factor in its popularity. The TikTok ban-or-sale law prohibits “any cooperation with respect to the operation of a content recommendation algorithm” between a new potential American ownership group and a China-based company. The new information comes as the White House pushes ahead to finalize the TikTok sale, after Trump said he made progress toward the deal in a call with Chinese President Xi Jinping on Friday. The deal is still awaiting some formal regulatory approvals from China, the White House official said Monday, although U.S. leaders have expressed confidence that the agreement will be completed.Last week, Treasury Sec. Scott Bessent confirmed that the two private parties involved have agreed upon the commercial terms of the deal. The announcement followed a meeting between American and Chinese officials addressing various issues, including tariffs and TikTok.If completed, the deal is expected to conclude the yearslong effort to place TikTok under American control, over U.S. officials’ concern that its China-based parent company posed a national security risk.Former President Joe Biden signed a bipartisan bill passed by Congress that went into effect on Jan. 19 banning TikTok unless it ceded control of at least 80% of its assets to U.S. operators. The White House said that stipulation is reflected in this deal. Trump multiple times paused the ban as his administration sought a sale via a deal with China.CNN contributed to this report