Cloud Trace lets you reprovision the _Trace bucket for data residency and CMEK, GA

You can reprovision an existing _Trace bucket to satisfy regulatory requirements for data residency and encryption. After reprovisioning, the storage location and encryption configuration of the _Trace bucket match your default settings for observability buckets. Reprovisioning is a destructive operation. This feature is generally available.

For more information, see Remediate data residency and CMEK requirements.