The Biden administration is demanding that TikTok's Chinese owners sell their stakes in the video-sharing app or face a possible U.S. ban of the app, per WSJ.

In December, a new bill by Sen. Marco Rubio, the top Republican on the Senate Intelligence Committee, and a bipartisan pair of congressmen in the House, was just introduced to ban TikTok. Numerous states have banned TikTok from government phones.

The legislation would US citizens from interacting with social media companies made by reported foreign adversaries, including China, Russia, Iran, North Korea, Cuba and Venezuela.

TikTok and its parent, ByteDance, are named directly.

Meanwhile, The Treasury Department’s Committee on Foreign Investment in the US made the demand recently to TikTok’s owner, ByteDance Ltd., the people said, indicating that the Biden administration has given up on a security review that was intended to blunt potential Chinese influence regarding the app, per Bloomberg.

U.S. House of representatives committee approves bill to give Biden power to ban TikTok.

Additionally, TikTok announced that they will limit screen time for users under 18 to just 60-minutes a day.

TikTok said the new limit comes after it brought in a prompt last year to encourage teens to manage their screen time. It said this helped "increase the use of our screen time tools by 234%".

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