It's not a standards issue. It's a cryptographic issue.
There are eight different codes. You put it on a different code for this region. If it's NTSC or PAL, which are just two standards—not eight standards—algorithmically, they can be converted very easily. There's no technical reason to do that. It is a pure copyright TPM protection system. If I sold a bottle of water, for example, and said that you could drink it only in Europe and not in America, would that be ethical?