Indonesian authorities dealt a major blow to TikTok’s expansion plans after they announced a national ban on virtual transactions on social media platforms. The social media platform TikTok has been working to accelerate e-commerce transactions in Indonesia, its largest market in Southeast Asia, as it fields increased scrutiny in other markets. However, the country’s government seems to have pulled the rug out from under TikTok’s feet.
According to the government, the ban on social media e-commerce transactions is meant to protect offline marketplaces and merchants from the…
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