Iran’s state news agency ISNA is reporting that the US naval blockade on Iranian ports is being lifted, marking what could be a pivotal moment in a conflict that has rattled global energy markets and sent shockwaves through the crypto sector for months.

The claim comes amid ongoing diplomatic negotiations between Washington and Tehran, with a formal agreement reportedly targeting June 19 as a deadline. If confirmed, the move would unwind one of the most aggressive US military postures in the Persian Gulf in decades.

How we got here

The US naval blockade of Iranian ports was imposed on April 13, following Iran’s military actions in the Strait of Hormuz that began in late February. The strait, a narrow chokepoint through which roughly a fifth of the world’s oil supply passes, became the flashpoint for escalating hostilities between the two nations.

Then came the first signal of a thaw. In late May, President Donald Trump posted on Truth Social that the blockade would “soon be lifted.” That single post was enough to set markets in motion.

On June 14, a broader US-Iran agreement was announced, aimed at ending hostilities and reopening the Strait of Hormuz. The blockade’s removal is expected to happen concurrently with or within 30 days of that agreement’s formal signing. Iran’s latest claim, reported through ISNA, suggests the process may already be underway.

The crypto angle

Bitcoin surged to approximately $74,000 in the wake of the initial easing signals from Trump, reflecting a market that was hungry for any sign that the worst-case scenario was off the table.

Meanwhile, the US Treasury has been busy on its own front. Approximately $1 billion in Iranian-linked digital assets have been seized during the blockade enforcement period. That represents one of the largest coordinated seizures of crypto assets tied to a sanctioned nation.

The $1 billion in seized digital assets also creates an overhang worth watching. If those assets are eventually liquidated by the US government, they could create selling pressure in certain token markets, depending on the composition of the seized funds.

There’s also the competitive landscape to consider. Iranian digital asset platforms have been largely frozen out of the global ecosystem during the blockade. If sanctions are eased as part of a broader deal, that could reintroduce Iranian trading volume into exchanges and DeFi protocols that have been operating without it.

For now, the smart play is probably the boring one: watch the June 19 deadline, monitor whether the blockade is actually being drawn down in practice rather than just in press releases, and resist the urge to treat a single ISNA report as gospel.