Bessent says Treasury favored limits on Megaspeed

​Treasury Secretary ​Scott Bessent on ‌Friday said ​his department was in favor ‌of putting Megaspeed on the US entity list for months, adding that ‌it was up to the ‌Commerce Department to manage the list and that the FTC could possibly ⁠take ​action.

"OFAC ⁠has no control over things like ⁠this, in terms of exports. This is ​a BIS (Bureau of Industry and Security)decision, ⁠and perhaps the FTC could ⁠put ​something on their restrictive list," Bessent told CNBC, adding ⁠that the administration was working to shut ⁠down "leakage" ⁠in the chip export system.