Bessent: Treasury Has Supported Blacklisting Megaspeed for Months

US Treasury Secretary Scott Bessent announced that the Treasury Department has long supported the addition of Singapore-based Megaspeed to the blacklist of companies subject to export restrictions. Bessent emphasized that the authority to make such a decision lies with the Commerce Department. Bessent also requested an investigation into whether Nvidia has been selling to shell companies. This request stands out as a step toward auditing transactions conducted by companies through intermediary structures under export controls. The Treasury Department's stance on Megaspeed is being evaluated alongside the fact that the Commerce Department is the competent authority in the process of blacklisting companies subject to export restrictions. Bessent's statements reveal that the process has been supported by Treasury for months. The request for an investigation into Nvidia draws attention to the oversight of sales that could be made through shell companies. While it is stated that the official decision-making authority on the matter is the Commerce Department, Treasury's supportive position and the investigation request are significant for market monitoring. Not investment advice.