While considering the regulatory requirements helps explain the desire to lie, it does not make the lie any more defensible. Even if a regulatory body is making impractical demand, I very much doubt they are demanding companies lie to their users and potential users. Even if they were "just following orders guv" is not an acceptable excuse.

The key facts: Zoom lied. They didn't have to. They could have accurately reported what encryption they use and what they were working towards if that was due to change.

Even if we accept that the initial claims were wrong due to executives misunderstanding what their own security/dev people had stated, that doesn't defend continuing to make the claim without seeking further clarity after questions were raised.