At the 2026 Paris Blockchain Week, Bybit CEO Ben Zhou discussed the current regulatory landscape for decentralized finance (DeFi) in a conversation with BeInCrypto's Global News Head, Brian McGleenon. Zhou emphasized the inherent conflict between DeFi's cross-border decentralized nature and centralized regulatory frameworks. He noted that the European Union's MiCA and most global regions have yet to establish clear definitions for DeFi, leaving room for regulatory arbitrage. Zhou described the current period as a regulatory honeymoon for DeFi, predicting that future regulations will likely prioritize decentralized exchanges (DEXs). In contrast, centralized exchanges (CEXs) have already implemented bank-level compliance checks, highlighting the stark difference with DEXs' anonymous, barrier-free trading. Zhou suggested that comprehensive DeFi regulation will take time to materialize.