Biden admin mulling nationwide TikTok ban if Chinese parent company doesn't divest
CBSN
The Biden administration wants TikTok's Chinese parent company to divest itself of the popular social media platform, or it could face a possible nationwide ban, TikTok confirmed to CBS News on Wednesday.
The Wall Street Journal reported that the Committee on Foreign Investment in the U.S. (CFIUS) recently made the divestment ask, and a TikTok spokesperson did not dispute that account.
The Treasury Department, of which CFIUS is a part, declined to comment. The White House and National Security Council also declined to comment.
President Biden on Monday signed into law a defense bill that authorizes significant pay raises for junior enlisted service members, aims to counter China's growing power and boosts overall military spending to $895 billion despite his objections to language stripping coverage of transgender medical treatments for children in military families.
It's Christmas Eve, and Santa Claus is suiting up for his annual voyage from the North Pole to households around the world. In keeping with decades of tradition, the North American Aerospace Command, or NORAD, will once again track Santa's journey to deliver gifts to children before Christmas 2024, using an official map that's updated consistently to show where he is right now.
An anti-money laundering law called the Corporate Transparency Act, or CTA, appears to have been given new life after an appeals court on Monday determined its rules can be enforced as the case proceeds. The law requires small business owners to register with the Financial Crimes Enforcement Network, or FinCEN, by Jan. 1, or potentially pay fines of up to $10,000.