It's not easy to build and run your own crypto exchange, although it's challenging to look at but it's hard to do apart from the need to spend a lot of money, there are actually a lot of things to consider here. Although, if you do it right you can expect to make a lot of money here.
Just in terms of complying with the laws and regulations so that you can operate, there is a lot to be followed and done here. The secure funds must also be fixed, and the management of the possible risks that can be faced here.
But this is just my opinion based on the title you made here op that's why I said it.
Haha well I think it's a given now - do NOT take the risk of operating an exchange for US users right now. As far as I've seen, it's only the SEC that seems to seriously have a problem with exchanges, I mean you don't see other countries suing exchanges left and right like the SEC.
Well, if someone is going to build a crypto exchange now in the US, I don't think that's a good plan or idea. The SEC is putting too much heat on crypto exchanges in their jurisdiction. They should just find another place or country to start their crypto exchange, not the US so that there will be no hassle problems later like what is happening now.
As long as they build a local exchange, that's fine as long as it's legal and helps the government and the people, why not, right?