Iran and the United States are apparently getting along, at least at the negotiating table. Ali Bahreini, Iran’s UN ambassador to Geneva, said on June 23 that technical-level talks between the two countries are making “good progress,” just one day after the US waived certain sanctions on Iran to kick off a 60-day dialogue window.

But Bahreini wasn’t all smiles. He flatly rejected claims from US Vice President JD Vance that any unfrozen Iranian assets would be used to purchase American commodities, or that the US and its allies would have a say in how those funds get spent. Iran, Bahreini stressed, retains sole authority over its own money.

What’s actually happening in the talks

The negotiations stem from a memorandum of understanding finalized in mid-June between the two sides. Two working groups are expected to zero in on the issues that have defined this standoff for decades: sanctions relief and Iranian nuclear activities.

The 60-day clock started ticking on June 22, when the US formally waived some sanctions on Iran. Iran’s frozen assets are estimated to exceed $100 billion.

Negotiators from Qatar and Pakistan have confirmed a roadmap for reaching a final deal within that 60-day window.

Markets are watching, but not panicking

Oil prices dipped slightly on the news. The crypto market, by contrast, has barely flinched. Bitcoin showed minimal direct reaction to the talks.

Where crypto does intersect with these negotiations, albeit indirectly, is in prediction markets. Polymarket, the USDC-denominated platform where users bet on real-world outcomes, has seen activity around the question of whether a final US-Iran agreement will materialize.