Mediators from Pakistan and Qatar are racing to lock down a memorandum of understanding between the US and Iran, with the text reportedly in its final review stage and a signing potentially days away. The agreement, if completed, would extend an existing ceasefire by 60 days while buying time for broader negotiations on sanctions and Iran’s nuclear program.

What’s actually in the MOU

The memorandum covers more ground than a typical ceasefire extension. Beyond adding 60 days to the current truce, it includes provisions for reopening the Strait of Hormuz without tolls and lifting some elements of the US naval blockade on Iranian ports.

Roughly a fifth of the world’s oil supply passes through the Strait of Hormuz on any given day. The MOU also reportedly addresses Iran’s enriched uranium stockpile, though the agreement is framed as an initial step toward broader nuclear talks rather than any kind of resolution.

Iranian Foreign Ministry officials indicated as of mid-June that the text was under final review. The remaining hurdle is approval from President Trump and Iranian leadership, which mediators have suggested could come within days.

The mediators pushing this forward

Pakistan and Qatar have emerged as the key intermediaries in these negotiations, with Pakistani Prime Minister Shehbaz Sharif and Army Chief Asim Munir playing central facilitation roles alongside Qatari officials.

What this means for crypto investors

Bitcoin has shown short-term rallies coinciding with progress in these negotiations, as crypto has increasingly traded as a risk-on asset that responds to shifts in global uncertainty.

US authorities have targeted Iran-linked crypto wallets as part of ongoing sanctions enforcement, freezing hundreds of millions in digital assets. If the MOU leads to meaningful sanctions relief, the question of what happens to those frozen assets becomes relevant.

Even with an MOU in place, the US sanctions apparatus around digital assets isn’t going to disappear overnight. A non-binding memorandum is a long way from formal sanctions relief, and compliance-focused exchanges and institutions will continue treating Iran-linked wallets with extreme caution until there’s clear regulatory guidance saying otherwise.

Investors should watch for two things in the coming days: the actual signing announcement, which could provide a short-term sentiment boost, and any specific language around sanctions relief that might signal changes to how US authorities treat Iran-linked digital assets.