President Trump announced on Tuesday that he plans to submit the framework agreement aimed at ending the US-Iran war to Congress for approval. The move, disclosed during a bilateral meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan, sets the stage for what could be one of the most consequential geopolitical shifts in years, and crypto markets are reacting accordingly.

Bitcoin jumped over 3% to climb above $66,000 following the announcement. It wasn’t alone. XRP surged roughly 8.8%, Ethereum gained about 6.6%, and Solana rose approximately 7.5%, as traders rushed into risk assets on the expectation that a peace deal would stabilize one of the world’s most volatile regions.

What the deal actually looks like

The agreement centers on an immediate cessation of hostilities between the US and Iran, with nuclear discussions set to follow over a 60-day negotiation window. A signing ceremony for the Memorandum of Understanding is planned for June 19-20 in Geneva.

Trump’s decision to route the deal through Congress aligns with the Iran Nuclear Agreement Review Act, known as INARA, which mandates legislative oversight for any nuclear-related agreements with Tehran. When asked by a reporter whether he’d send it to Congress, Trump replied simply: “I wouldn’t mind.”

This isn’t a rehash of the 2015 Joint Comprehensive Plan of Action, the Obama-era nuclear deal that Trump withdrew from in 2018. That agreement traded sanctions relief for nuclear compliance. The current framework flips the priority order: stop the war first, then talk about enrichment. Core negotiations reportedly began after 2024 and accelerated amid conflicts earlier in 2026.

Why crypto cares about an Iran deal

The Strait of Hormuz is responsible for roughly a fifth of global oil transit. Oil prices reflected the announcement immediately. WTI crude dropped an estimated 4-5% on the news, as markets began pricing in the potential reopening of stable trade routes through the strait.

What this means for investors

Congressional approval is not a formality. INARA gives lawmakers a review window during which they can potentially block or modify the terms of any nuclear-related agreement. The 60-day nuclear discussion period that follows the MOU signing also introduces a long tail of uncertainty.

One underappreciated angle: the deal’s potential impact on sanctions infrastructure. Iran has been one of the most heavily sanctioned nations on earth, and its citizens have historically turned to crypto to move value across borders. Any loosening of the sanctions regime as part of nuclear discussions could reshape how regulators think about compliance requirements for exchanges and DeFi protocols that interact with Iranian wallets.