Indonesia to ban purchases on social media like TikTok, says it will further regulate e-commerce
Two sellers offering merchandise for sale through a TikTok livestream.
Bay Ismoyo | Afp | Getty Images
Indonesia’s ministry of trade said Tuesday it is working to further regulate e-commerce, adding that the country does not allow transactions on social media platforms.
“One of the things that is regulated is that the government only allows social media to be used to facilitate promotions, not for transactions,” the ministry said in an official release.
This means that users in Indonesia cannot buy or sell products and services on TikTok and Facebook.
The government said it will also bar social media companies from doubling as e-commerce platforms to prevent misuse of public data.
In a media conference Monday, Minister of Trade Zulkifli Hasan said that “the connection [between social media and e-commerce] must be separated so that the algorithm is not all controlled” and this “prevents the use of personal data” for business purposes.
Indonesia also said it would also regulate which overseas goods can be sold, adding these products would receive the same treatment as offline domestic goods. The move comes as foreign goods become increasingly available in Indonesia through social media platforms.
On Saturday, Indonesia’s President Joko Widodo called for social media regulations, citing the platforms’ impacts on local businesses and the economy.
“Because we know it affects MSMEs, small businesses, micro-enterprises, and also the market. There are markets where sales have started to decline due to the influx,” he said a statement.
A blow to TikTok
Indonesia’s regulations are set to devastate TikTok’s e-commerce ambitions in the country.
Indonesia is TikTok’s second-largest market with 113 million users, just behind the U.S. which has 116.5 million TikTok users, according to DataReportal.
In June, TikTok’s CEO Shou Zi Chew said that the app is “going to invest billions of dollars in Indonesia and Southeast Asia over the next few years.”
“Social commerce was born to solve a real world problem for local traditional small sellers, by matching them with local creators who can help drive traffic to their online shops,” a TikTok spokesperson said after Indonesia’s move.
“While we respect local laws and regulations, we hope that the regulations take into account its impact on the livelihoods of more than 6 million sellers and close to 7 million affiliate creators who use TikTok Shop,” they said.
Citi said in a Tuesday report that the move benefits competitor Shopee, the e-commerce arm of Sea Limited, and Indonesia’s domestic players.
“We view this as a positive development for traditional e-commerce players in Indonesia — particularly Sea Ltd., given the latest competitive intensity between TikTok and Shopee,” the global investment bank said in its report.
“Depending on the timing of the implementation and the transition process to the possible alternative app, in our view, any disruptions that TikTok sellers experience during the transition will likely be beneficial to Shopee and other traditional e-commerce platforms in the coming months,” said Citi.
George Kurtz, chief executive officer of Crowdstrike Inc., speaks during the Montgomery Summit in Santa Monica, California, U.S., on Wednesday, March 4, 2020.
Patrick T. Fallon | Bloomberg | Getty Images
CrowdStrike shares fell 7% in extended trading on Tuesday after the security software maker issued a weaker-than-expected revenue forecast.
Here’s how the company did against LSEG consensus:
- Earnings per share: 73 cents, adjusted vs. 65 cents expected
- Revenue: $1.10 billion vs. $1.10 billion expected
Revenue increased by nearly 20% in the fiscal first quarter, which ended on April 30, according to a statement. The company registered a net loss of $110.2 million, or 44 cents per share, compared with net income of $42.8 million, or 17 cents per share, in the same quarter last year.
Costs rose in sales and marketing as well as in research and development and administration, partly because of a broad software outage last summer.
For the current quarter, CrowdStrike called for 82 cents to 84 cents in adjusted earnings per share on $1.14 billion to $1.15 million in revenue. Analysts polled by LSEG were expecting 81 cents per share and $1.16 billion in revenue.
CrowdStrike bumped up its guidance for full-year earnings but maintained its expectation for revenue. The company now sees $3.44 to $3.56 in adjusted earnings per share, with $4.74 billion to $4.81 billion in revenue. The LSEG consensus was $3.43 per share and $4.77 billion in revenue. The earnings guidance provided in March was $3.33 to $3.45 in adjusted earnings per share.
Also on Tuesday, CrowdStrike said it had earmarked $1 billion for share buybacks.
“Today’s announced share repurchase reflects our confidence in CrowdStrike’s future and unwavering mission of stopping breaches,” CEO George Kurtz said in the statement.
As of Tuesday’s close, the stock was up 43% so far in 2025, while the S&P 500 index had gained less than 2%.
Executives will discuss the results on a conference call with analysts starting at 5 p.m. ET.
WATCH: Trade Tracker: Malcolm Ethridge buys more CrowdStrike, Palo Alto Networks, Spotify and Oracle
An attendee wearing a cow costume while playing Mario Kart World by Nintendo Switch 2 during the Nintendo Switch 2 Experience at the Excel London international exhibition and convention centre in London on April 11, 2025.
Isabel Infantes | Reuters
Nvidia CEO Jensen Huang on Tuesday talked up the capabilities of Nintendo‘s new Switch 2, days before the long-awaited console is set to hit store shelves.
In a video posted by Nintendo, Huang called the chip inside the Switch 2 “unlike anything we’ve built before.”
“It brings together three breakthroughs: The most advanced graphics ever in a mobile device, full hardware ray tracing, high dynamic range for brighter highlights and deeper shadows, and an architecture that supports backward compatibility,” Huang said.
He added that the console has dedicated artificial intelligence processors to “sharpen, animate and enhance gameplay in real time.”
Huang’s comments come as Nintendo prepares to release the Switch 2 on Thursday. The Switch 2 is Nintendo’s first new console in eight years, and it is expected to be a bigger and faster version of its predecessor. The device costs $449.99.
Huang also paid tribute to the vision of former Nintendo CEO Satoru Iwata, who died before the original Switch was released.
“Switch 2 is more than a new console,” Huang said. “It’s a new chapter worthy of Iwata Son’s vision.”
WATCH: Nintendo expects to sell 15 million units of the Switch 2
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