How does a crypto exchange development team work?

Could you elaborate on the operational dynamics of a cryptocurrency exchange development team? I'm curious about the various roles and responsibilities within the team, as well as the collaborative process involved in building a secure and user-friendly platform. Additionally, how do they ensure the exchange meets regulatory requirements and stays up-to-date with the latest technological advancements in the industry? I'm interested in understanding the intricacies of their workflow and the challenges they encounter during the development process.