- Companies including Amazon.com Inc (NASDAQ:AMZN) and Alibaba Group Holding Ltd (NYSE:BABA) missed a deadline to register in Indonesia, Bloomberg reports.
- Other companies missing the deadline included Roblox Corp (NYSE:RBLX), Microsoft Corp (NASDAQ:MSFT) LinkedIn Corp, and PayPal Holdings, Inc (NASDAQ:PYPL).
- The companies have five working days to comply to help them continue their services in the country.
- The non-submission of official business registrations by the non-compliers grants Indonesia sweeping powers to shut down content it deems undesirable and tax digital sales.
- Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google and Meta Platforms Inc's (NASDAQ:META) Facebook have complied.
- Social media operators are amid intense scrutiny from global regulators over their growing influence.
- Indonesia's government can rightfully block services that fail to remove within 24 hours content that could potentially "incite unrest" or "disturb public order."
- Alibaba and Meituan (OTC:MPNGY) jointly handed out 92% of China's antitrust penalties following its sweeping crackdown on the domestic tech sector.
- Price Action: AMZN shares traded lower by 0.43% at $124.10 in the premarket on the last check Friday.
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