TikTok Shop closes in Indonesia after new e-commerce ban

TIKTOK said it halted its online retail operation in Indonesia to comply with the country’s decision to ban e-commerce transactions on social media platforms – a big blow to the video platform’s fastest-growing market.

The Indonesian government announced the new regulation, which prohibits social media companies from facilitating sales of products on their platforms, on Sept 28 in a bid to protect small businesses from e-commerce competition, accusing the popular apps and websites of predatory pricing.