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This is something I have thought about too, but we are likely years away from having the ability to report only once for Europe, let alone the US etc as well.

There is also concept of immutability of transactions on blockchain to deal with. Financial institutions are not currently very good at accurately reporting their transactions to the regulator and this will cause some challenges if they are reported on a blockchain. These are not small numbers of incorrect transactions either. In the last two years the FCA have fined two large banks for inaccurate repporting of 29m and 35m transactions.

Compliance is becoming increasingly difficult, with a myriad of new and complex regulations such as Dodd-Frank and MiFID II. This is putting an increased burden on compliance teams who after all are cost centres and dont have the largest of budgets. The skillls required are expanding - understanding the regulation and how to apply it, detailed business knowledge across a range of asset classes eg for surveillance, and technical skills because of the increasing use of technology. And many banks are trying to relocate compiance teams either off-shore or away from the financial centres, in order to benefit from cheaper labour costs. No wonder people want to leave.