ROEST 2019- A Balancing Act Between Innovation and Regulation in Indonesia’s Digital Economy

Summary:

Indonesia's Regulation on the Operation of Electronic Systems and Transactions 2019 (ROEST 2019) is a regulatory framework aiming to balance innovation and regulation in the digital ecosystem. The regulation fosters innovation while ensuring minimum standards, mandates strict cybersecurity protocols, and takes a holistic approach to encompass multiple dimensions of the digital ecosystem. However, challenges arise due to the complexity of compliance for small and medium enterprises (SMEs) and jurisdictional issues. Recommendations include continuous updates to adapt to technological changes and special initiatives to support SMEs. Overall, ROEST 2019 provides a strong blueprint for cultivating a secure and innovative digital ecosystem, but its effectiveness hinges on its agility and responsiveness to technological advancements.