It isn't. Take two galaxies that are far enough apart that their "recession velocity" is faster than ##c##. Let each of these galaxies emit a light ray in the direction away from the other. The "velocity" of those two light rays relative to each other, defined in the same way as that for the galaxies, will be larger than that of the galaxies themselves--i.e., light itself is "moving faster than light" by this definition.
What all this really means is that this "velocity" isn't a velocity in the usual sense of special relativity, which is the only sense of the term "velocity" to which the rule that velocities can't be faster than ##c## applies. As Orodruin said, one way to interpret what is going on is that space itself is expanding. But that interpretation also has limitations. Another way to think of it is simply that, in a curved spacetime (i.e., in the presence of gravity), the concept of "relative velocity" has no well-defined meaning for spatially separated objects. The "velocity" that people are talking about when they say galaxies far enough away from us have a "recession velocity" faster than light is what is called a "coordinate velocity", and doesn't have any direct physical meaning; that's why it doesn't obey the same rules as a relative velocity in special relativity does.