Belarus authorizes ‘cryptobanks' combining token operations with traditional banking

The news from Belarus is unlikely to significantly impact funding rates globally in the short term. Belarus's crypto market is relatively small, so any changes in demand driven by these 'cryptobanks' will have a limited effect on funding rates of major cryptocurrencies. Delta-neutral traders are unlikely to adjust their positions based solely on this news.

While this news has limited immediate impact, it signals a growing acceptance of cryptocurrencies within traditional financial systems in certain regions. This may encourage other countries to explore similar regulatory frameworks. For delta-neutral traders, monitoring regulatory developments globally is crucial. Increased legitimacy of crypto can ultimately reduce volatility and arbitrage opportunities in the long run. The key is to assess the scale and potential impact when larger economies adopt such policies.