WASHINGTON (Nov 13): Treasury Secretary Scott Bessent on Friday said his department was in favour 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.

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