Canada is taking a hard line on kids and social media. On Wednesday, Prime Minister Mark Carney's government introduced the Safe Social Media Act, a bill that would restrict access for users under 16 and force tech companies to take more responsibility for what happens on their platforms.

Carney announced the legislation on X, writing: "Today, our government introduced new legislation to protect our kids online. Canada's Safe Social Media Act will hold social media and AI platforms accountable, make them safer, and restrict access to social media for children under 16."

The prime minister pointed to troubling trends among young people. "More and more kids are suffering from anxiety, depression, self-harm, and exploitation," he said. "To keep our kids safe, we have to ensure that our laws keep up with technology."

The bill is part of a broader global push to regulate how tech platforms interact with minors. Last month, UK Prime Minister Keir Starmer was reportedly preparing restrictions on harmful social media for children under 16, including measures targeting sexualized images used in sextortion schemes. Proposed policies included limits on screen time, curfews, and restrictions on addictive platform features.

In the United States, the path has been bumpier. In February, a federal judge temporarily blocked Virginia's law that would have capped social media use for users under 16 at one hour per day without parental approval. The judge ruled the measure likely violated constitutional free speech protections.

Meanwhile, some tech companies are moving ahead on their own. Meta Platforms Inc. (META) last year introduced new safeguards for teens, requiring parental permission for Instagram live streaming and changes to sensitive-content protections. The company also expanded its Teen Account safety features across Facebook and Messenger in several countries, adding stricter privacy and content controls for younger users.

Canada's bill still needs to pass through Parliament, but it signals that governments are increasingly willing to step in where they see tech companies falling short. For investors, the message is clear: the regulatory environment for social media is tightening, and compliance costs—or restrictions—could reshape how platforms operate.