Iran and the United States are hammering out a short memorandum of understanding that could formalize an end to the conflict that has rattled global markets since early 2026. The proposed document, reportedly consisting of 14 points, covers everything from nuclear enrichment to sanctions relief to the full reopening of the Strait of Hormuz.

Bitcoin jumped above $64,000 on the back of these reports.

What’s in the proposed MOU

The draft framework is built around several pillars. At its core sits a moratorium on Iranian nuclear enrichment, a demand that has been the central sticking point in US-Iran relations for the better part of two decades.

In exchange, Iran would receive relief on certain US sanctions and the release of frozen assets. The Strait of Hormuz, a maritime chokepoint through which roughly a fifth of the world’s oil passes, would be fully reopened under the terms.

The negotiations involve US envoys Steve Witkoff and Jared Kushner on the American side, with Iranian officials led by Mohammad Bagher Ghalibaf. Multiple states are serving as mediators.

US officials have pushed back against elements of the Iranian state media’s characterization of the deal, calling some details fabrications.

The conflict traces back to US and Israeli strikes on February 28, 2026, which escalated into a broader military engagement. A ceasefire has been in place since April 7-8, 2026, and the MOU is designed to extend that ceasefire into something more durable.

The crypto angle: Bitcoin, Nobitex, and sanctions enforcement

Bitcoin’s move above $64,000 reflected a market pricing in the possibility of reduced geopolitical risk.

On June 5, 2026, the US Treasury sanctioned Nobitex, Iran’s largest cryptocurrency exchange, over alleged terror financing. The timing was notable, landing right in the middle of the MOU-related discussions.

Iranian users displaced from their largest domestic exchange don’t simply stop transacting. They move to decentralized platforms, peer-to-peer networks, or smaller exchanges with weaker compliance frameworks.

Why this matters for crypto investors

The frozen asset release is another variable to watch. Depending on the size and mechanism of any asset unfreezing, there could be downstream effects on dollar liquidity and, by extension, crypto markets.

As of June 13, 2026, the situation remains fluid. The gap between what Iranian state media is reporting and what US officials are confirming is wide enough to drive a diplomatic convoy through. Final terms, asset release timelines, and implementation mechanisms all remain unresolved.