Solana Shatters First Resistance Barrier - $153 Target Now in Sight
Solana's explosive rally just bulldozed through initial resistance levels, setting the stage for a potential assault on the $153 threshold.
The Technical Breakout
SOL's momentum defied expectations as it sliced through resistance like a hot knife through butter. The breach signals renewed institutional interest and retail FOMO converging at precisely the wrong time for bears.
Market Mechanics in Play
Volume spikes accompanied the move, suggesting this isn't just another dead-cat bounce. The cryptocurrency's underlying infrastructure continues to process transactions while traditional finance systems struggle with basic settlement times.
Trader Psychology at Critical Juncture
With the first line of defense demolished, market sentiment shifts from cautious optimism to outright greed. The path to $153 now appears clearer than a banker's conscience during a bull market.
As Solana carves its trajectory upward, the real question becomes whether traditional finance will continue watching from the sidelines or finally admit digital assets aren't just a passing fad for millennials.
Ambiguities in PSE Rules
Indonesia’s PSE rules, outlined in Ministerial Regulation 5/2020, require both domestic and foreign online service operators to register with the government. Failure to comply may result in warnings, service suspension, or outright blocking. The regulation also mandates that content “inciting unrest” or “disturbing public order” must be removed within 24 hours.
However, the rules’ applicability to infrastructure providers like Cloudflare remains unclear. Unlike platforms that host or publish content, Cloudflare primarily manages security and performance, raising questions about whether PSE obligations should fully extend to such services. The regulation’s broad scope covers nearly all online services, creating uncertainty for companies that are not traditional content hosts.
In 2022, Indonesian authorities blocked over 213,000 web pages to enforce PSE compliance, including temporary restrictions on platforms such as PayPal. Observers note that enforcement against an infrastructure provider could have wider repercussions, potentially affecting multiple services simultaneously.
Foreign PSEs Seek Support
While domestic operators dominate Indonesia’s digital market, 6,604 registered by mid-2022, foreign firms lag behind, with only 125 registrations completed.
Many of these foreign platforms are new to Indonesia’s Online Single Submission Risk-Based Approach (OSS-RBA), a process requiring detailed documentation, system disclosures, and appointment of a local representative.
To navigate these complex requirements, foreign companies often rely on specialized business-to-business compliance services. These providers manage the full registration process, including translations, local representation, and ongoing compliance checks. Komdigi’s official portal, pse.kominfo.go.id, lists registered operators and provides guidance for companies seeking to meet local regulations.
Implications for Indonesia’s Digital Economy
Indonesia’s digital economy is projected to exceed $130 billion by 2025, attracting more foreign platforms that must adhere to PSE registration rules. The government’s outreach and enforcement initiatives, particularly following the July 2022 registration deadline, signal a serious intent to regulate online operators comprehensively.
For Cloudflare and similar infrastructure providers, this creates a delicate balancing act. While the company seeks to cooperate with regulators and ensure smooth operations for its users, the ambiguities in the law underscore the challenges of operating in a market where regulatory expectations are still evolving.
The outcome of these discussions will likely influence how Indonesia’s PSE framework is interpreted and enforced against non-content-hosting services, shaping the country’s digital landscape for years to come.
