The Indonesian Financial Services Authority requires internet celebrities in the financial and cryptocurrency fields to hold certificates and disclose paid promotion information
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According to Bloomberg, the Indonesian Financial Services Authority requires internet celebrities in the financial sector to disclose paid promotion information and obtain a license to recommend assets. Enterprises are responsible for the information released by internet celebrities in cooperative marketing, and internet celebrities in the encryption sector must hold specific certifications. In February of this year, the institution imposed a fine of 5.4 billion Indonesian rupiah (approximately 300000 US dollars) on an internet celebrity who manipulated stock prices.