Cybersecurity Stocks Tumble After Anthropic's Claude Mythos AI Leak Sparks Market Fears 
Federal Judge Blocks Pentagon's Blacklisting of AI Company Anthropic 
Can your cat recognise you by scent? New study shows it’s likely 
Lynas Rare Earths Signs Vietnam Deal with LS Eco Energy to Boost Magnet Metal Production 
Judge Dismisses Sam Altman Sexual Abuse Lawsuit, But Sister Can Refile 
Anthropic Sues Pentagon Over AI Blacklist, Citing Free Speech Violations 
Google's TurboQuant Sends South Korean Chip Stocks Tumbling Amid AI Memory Demand Fears 
Henkel in Advanced Talks to Acquire Olaplex at $2 Per Share 
Asian Currencies Hold Steady as Dollar Stays Firm Amid Middle East Uncertainty 
Gold Prices Drop Amid Iran Peace Talk Uncertainty and Stronger Dollar 
France's 2025 Budget Deficit Shrinks More Than Expected, Easing Fiscal Pressure 
Oil Prices Climb as Iran Reviews U.S. Peace Proposal Amid Middle East Tensions 
Bank of Japan Faces Rate Uncertainty Amid Middle East Oil Shock 
Locked up then locked out: how NZ’s bank rules make life for ex-prisoners even harder 
xAI Faces Lawsuit Over Grok AI-Generated Sexual Content Involving Minors 
OpenAI Pulls the Plug on Sora, Ending $1 Billion Disney Partnership 
Oil Prices Slip as Middle East Tensions Ease, Heading for Weekly Loss 
Indonesia is set to introduce stringent trade regulations on social media transactions. During a recent parliamentary hearing, Deputy Trade Minister Jerry Sambuaga underscored the surge of "live" sales on platforms like TikTok, emphasizing a need to separate social media from direct sales.
The move comes in response to concerns that e-commerce sellers utilizing predatory pricing on social media platforms threaten offline markets in Southeast Asia's largest economy. Current trade regulations do not explicitly address direct transactions on social media, leading the government to take action.
During his statement to parliament, Sambuaga highlighted the example of sellers using "live" features on the popular short video platform TikTok to promote and sell goods. He emphasized that social media and social commerce should be kept separate. According to Sambuaga, revisions to the trade regulations that are currently underway will firmly and explicitly ban this.
In contrast, TikTok expressed concerns that separating social media and e-commerce into distinct platforms could hinder innovation. The company hopes the government will provide a level playing field for the industry, as separating the two could also disadvantage Indonesian merchants and consumers, according to TikTok Indonesia spokesperson Anggini Setiawan.
TikTok, with 125 million active users in Indonesia and 325 million active Southeast Asian users each month, has approximately 2 million sellers in Indonesia. However, the company has no plans to introduce cross-border operations in Indonesia amid concerns that its e-commerce push would flood the country with Chinese products. Meta's Facebook, which also features a marketplace, has yet to comment.
With a population exceeding 270 million, Indonesia recorded almost $52 billion worth of e-commerce transactions last year. Approximately 5% of these transactions occurred on TikTok, mainly through live-streaming, as noted in data from consultancy firm Momentum Works.
The Indonesian e-commerce sector is projected to reach $95 billion by 2025, according to a 2022 industry report conducted by Google, Temasek Holdings, and Bain & Company.
Photo: Nik/Unsplash
