There'd be some need for regulation but less than with fission. The only nuclear waste is activated reactor components, not transuranics and fission products. The reactor turns off like a light switch, with nothing to produce decay heat, and it has no potential for a runaway reaction. (It's hard enough to get the reaction going in the first place.) The only potential radiation release is small amounts of tritium, and there's no concern about fissiles getting diverted for weapons. Tritium has some weapons use if you're ready to progress to thermonuclear bombs, but in that case you hardly need fusion reactors to make it.
If we manage boron fusion, we'll be producing less radiation than burning equivalent coal, and won't have tritium. It's hard to see how anyone would justify regulating that for anything other than electrical safety, just like any other power plant, and for radiation standards on par with medical equipment.
People bring up that joke in the comments section of every fusion article ever published. The fact is, fusion has progressed exponentially since about 1970, about as fast as Moore's Law, despite a level of funding far below what those early optimistic advocates said we needed.