Binance founder Changpeng Zhao (CZ) discussed the challenges of regulatory demands on his cryptocurrency exchange during a fireside chat at Token2049 in Dubai. In the session, he highlighted regulators’ push for local oversight of crypto businesses, including requirements for local custody wallets and order books. CZ expressed concern over the high costs and resource demands associated with such localized regulation, particularly when considering the need to adapt these solutions across numerous countries. He praised the UAE as a supportive environment for cryptocurrency businesses due to its pro-crypto stance, business-friendly policies, and safety standards. “We don’t have enough people for it”, CZ stated about adapting local regulations across various countries.