This comes after Indonesia imposed a one-week deadline for TikTok to become a standalone app.
"Our priority is to remain compliant with local laws and regulations," said TikTok in a statement on Wednesday.
TikTok Indonesia said it will end transactions on its e-commerce marketplace by Thursday, in order to comply with new local regulations.Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly"As such, we will no longer facilitate e-commerce transactions in TikTok Shop Indonesia by 17:00 GMT+7, October 4, and will continue to cooperate with the relevant authorities on the path forward," it said..
The new regulation could deal a major blow to TikTok's Southeast Asian ambitions. CEO Shou Zi Chew previously said that the app will invest billions of dollars into the region as it looks to diversify its business globally as U.S. pressure escalates. Indonesia is TikTok's largest Southeast Asian market and second-largest market globally with 125 million users after the U.S., according to the company.He explained logging into a separate app might lead to a sharp drop-out rate as most purchases on TikTok are impulse buys.Intel plans to IPO programmable chip unit within three years; stock rises after hoursChicago Migrants
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