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.
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