The UK's Financial Conduct Authority has increased its cryptocurrency staff to 100 to address the "business backlog" issue

ChainCatcher news, the UK's Financial Conduct Authority (FCA) has stated that it is clearing a "backlog of business," approving an increasing number of cryptocurrency companies for registration, and expanding its cryptocurrency business capacity to 100 employees.

Steve Smart, the Joint Executive Director for Enforcement and Market Oversight at the FCA, stated in a speech yesterday that the speed of cryptocurrency companies registering with the regulator is accelerating as the FCA helps them better navigate the registration process.