TechFlow reported on June 27, according to Protos, that the UK Financial Conduct Authority (FCA) said it is speeding up the approval process for registered cryptocurrency firms and expanding its crypto team to 100 employees in order to clear operational backlogs. Currently, there are 44 cryptocurrency companies registered with the FCA.
In December last year, the UK's National Audit Office criticized the FCA for moving too slowly in enforcing regulations within the cryptocurrency sector, highlighting the need for more staff with cryptocurrency expertise to prevent registration delays.
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