Biden admin mulling nationwide TikTok ban if Chinese parent company doesn't divest

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.