TikTok said it will halt its online retail operation in Indonesia on Wednesday 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. The Chinese-owned video sharing app said in a statement it will stop facilitating e-commerce sales in TikTok Shop Indonesia by 5 p.m. Wednesday.