The digital transformation of money presents a paradox. While technology enables seamless cross-border value transfer, regulatory frameworks remain fragmented across jurisdictions. As central banks explore digital currencies and cryptoassets gain mainstream adoption, achieving regulatory interoperability becomes not just desirable but essential for the future of finance. The interoperability challenge While at the German Federal Financial Supervisory Authority (BaFin) during the creation and implementation of the Markets in Crypto-Assets Regulation, I observed a fundamental tension: financial innovation moves at ... (full story)