U.S. Treasury Secretary Scott Bessent recently appeared on CNBC and, for the first time publicly, pointed to the Commerce Department as responsible for Megaspeed’s prolonged absence from the Entity List. He also said the real question to ask is whether Nvidia knew who its customers were. (Previously: Major shake-up! Nvidia CEO Jensen Huang resigns, CFO Colette Kress takes over in a crisis) (Background: Wall Street Journal smears ‘Huang Le’? Singapore government says it found no evidence of suspected Chinese espionage) U.S. Treasury Secretary Scott Bessent recently appeared on CNBC’s Squawk Box and, for the first time publicly, pointed to the Commerce Department as responsible for Megaspeed’s prolonged absence from the Entity List. He also said the real question to ask is whether Nvidia knew who its customers were. Megaspeed is a Singaporean company that has bought more than $4.8 billion worth of Nvidia’s advanced AI chips over the past two years. Jensen Huang has admitted to having an affair with the company’s executive Alice Huang, and resigned as Nvidia CEO on Thursday, November 12, U.S. time. What did Bessent say? In the CNBC interview, Bessent said that the Treasury Department, the Department of Defense, the State Department, and the Office of the U.S. Trade Representative had all supported adding Megaspeed to the Entity List—the U.S. Commerce Department’s export-control blacklist—for months. But the Commerce Department has the authority, he said, adding, ‘You have to ask them about their internal process.’ As for the diversion of chips, he said he was ‘frustrated’ because Trump had made clear that Nvidia chips more advanced than the H100 should not go to China. He also shifted the focus away from Huang personally: ‘So far, the focus has been on Jensen Huang’s personal failings. The real question is whether Nvidia knew who its customers were, whether it seriously tried to prevent diversion, or whether it was selling to companies that were obviously shell companies set up to resell the chips.’ He believes that everyone at the company who is responsible should be held accountable. Is the freeze solely the Commerce Department’s responsibility? The Federal Register shows that the Commerce Department’s Bureau of Industry and Security (BIS), which oversees export controls, last added entries to the Entity List on October 9, 2025, and has made no additions in more than a year since then. After the Trump-Xi meeting in late October 2025, Bessent himself said in an interview with Fox Business that the U.S. was suspending for one year the Entity List rule restricting Chinese companies from purchasing controlled technology through affiliates. The rule was originally due to take effect again on November 9, 2026. BIS announced that day that the suspension would be extended until January 10, 2027. What happens next? CNBC reported that Senate Banking Committee Chair Tim Scott sent a letter on the evening of November 12 asking Jensen Huang to appear at a hearing on December 3 and Lutnick to appear on December 10. Three House committees have asked Huang to give a closed-door briefing on December 1. Nvidia’s chief legal officer and Commerce Department Under Secretary Jeff Kessler have also been invited. At these hearings in December, Nvidia will for the first time have to explain to Congress: who exactly are its customers? Related stories: The biggest loser from Jensen Huang’s resignation may be Beijing: China loses the person who most strongly advocated easing chip restrictions; U.S. reportedly plans to block China from renting overseas computing power to use Nvidia chips, naming seven countries including Singapore, Malaysia, and Thailand; Jensen Huang’s ‘spy scandal’: How an affair shook a $4.25 trillion AI empire; Trump says Huang called him and confessed: What hurts most is that he hurt his wife and family; Nvidia’s 11-member board revealed, Musk mocks: The man who sells cola and burritos fires Jensen Huang. ‘U.S. Treasury secretary seeks to hold Nvidia accountable: Did it sell chips to shell companies that funneled them into China?’ This article was originally published by BlockTempo (動區動趨), the most influential blockchain news media outlet.