The acting director of the CFPB in the United States has cut off the agency's funding sources and suspended some supervision

Odaily Planet Daily reported that Russell Vought, the newly appointed Acting Director of the Consumer Financial Protection Bureau (CFPB) by US President Trump, has cut off the agency's new sources of funding and reportedly requested staff to suspend all activities. Vought stated in his X post on February 9th: "I have informed the Federal Reserve that the CFPB will not withdraw the next unallocated funds as it is' not reasonably necessary 'to fulfill its duties. In the current fiscal environment, the bureau's current balance of $711.6 million is actually too high It is understood that the establishment of this institution is to regulate financial companies such as banks and remittance companies, and prevent them from participating in abusive and predatory behavior. It also accepts complaints against cryptocurrency exchanges in the United States.