Convention 108+

The regime itself mandates, pilots or funds privacy-preserving technology.

What Convention 108+ actually says

The counterweight instrument, and the one that has not arrived. Convention 108+ modernises the only binding international data protection treaty open to states outside Europe, adding minimisation, proportionality, privacy by design, breach notification and a right not to be subject to decisions taken solely by automated processing. Every one of those bears directly on transaction monitoring and blockchain analytics. Article 11 still permits exceptions for national security and criminal investigation subject to necessity and proportionality, which is the hook anti-money-laundering processing hangs on. Four ratifications short of entry into force as of August 2026, eight years after opening. Set that against tax reporting under CARF beginning in 2027 and the asymmetry in this section becomes hard to miss.

What this means for confidential transactions

Bubble is built for exactly this shape of obligation: amounts and balances live on chain as ciphertexts, computation happens without decryption, and the only disclosure path is an on-chain access list through which an authorized party - an auditor, a supervisor, a counterparty - can request scoped decryption. That is confidentiality from the public, not from the regulator.