Crypto markets are seeing several important developments today. Pakistan has opened its virtual-asset licensing process, existing crypto businesses face a Sept. 5 deadline to apply for regulatory approval, Ray Dalio is recommending gold alongside “a bit” of Bitcoin as protection against U.S. debt risks, and Standard Chartered says its $100,000 year-end Bitcoin target could prove too conservative.
Pakistan Opens Crypto Licensing Portal
Pakistan’s Virtual Assets Regulatory Authority (PVARA) has officially launched its licensing portal as the country moves from establishing a legal framework toward regulating crypto businesses in practice.
Virtual asset service providers that were operating by March 5 must submit an application for a no-objection certificate (NOC) by Sept. 5. Firms that continue operating without applying could face enforcement action.
The new process applies to both domestic and international crypto businesses serving Pakistani customers. PVARA said the licensing regime is designed around consumer protection, corporate governance, compliance and market integrity.
The move marks a significant step in Pakistan’s transition toward a formal regulatory structure for digital assets.
Ray Dalio Adds ‘A Bit’ of Bitcoin to His Hedge Strategy
Billionaire investor Ray Dalio is again highlighting Bitcoin as a potential portfolio hedge as concerns over U.S. debt continue to grow.
The Bridgewater Associates founder suggested investors consider allocating around 10% to 15% of their portfolios to gold, while maintaining some exposure to Bitcoin and reducing reliance on debt assets.
Dalio warned that the United States could face a debt crisis within roughly three years, although he stressed that the timeline would depend on whether policymakers change the country’s current fiscal trajectory.
His stance represents a gradual evolution from his earlier position on Bitcoin. Dalio has traditionally favored gold and previously described a relatively small Bitcoin allocation as reasonable, while continuing to question BTC’s ability to replace gold as a long-term store of value.
Standard Chartered Says $100K Bitcoin Target May Be Too Low
Standard Chartered’s outlook for Bitcoin has become more optimistic following the cryptocurrency’s latest rally.
Geoff Kendrick, the bank’s global head of digital-asset research, said Bitcoin could potentially retest its previous $126,000 all-time high before the end of 2026.
He noted that the recent rally has been supported by short-position liquidations and a recovery in spot Bitcoin ETF demand. Relatively low open interest could also leave room for additional investors to enter the market if prices continue climbing.
Kendrick now acknowledges that the bank’s existing $100,000 year-end target may prove too conservative.
The forecast represents a significant change from the bank’s February outlook, when Standard Chartered reduced its Bitcoin target from $150,000 to $100,000 and lowered its Ether projection from $7,500 to $4,000.
Taken together, the developments point to three major themes shaping crypto markets: accelerating regulatory adoption, growing interest in Bitcoin as a macroeconomic hedge, and increasingly optimistic institutional price expectations.
