The United States and Iran have signed a memorandum of understanding aimed at winding down their nearly four-month war, with President Donald Trump, Vice President JD Vance, and Iranian Parliament Speaker Mohammad Bagher Ghalibaf all putting digital signatures on the document. Pakistani mediators facilitated the electronic signing process.

What the deal actually says

The agreement outlines a 60-day ceasefire extension, giving both sides breathing room to negotiate the thornier issues that remain unresolved. Chief among the provisions is the reopening of the Strait of Hormuz, the narrow waterway through which approximately 20% of the world’s oil supply passes on any given day.

The MOU also commits both parties to continued negotiations on nuclear issues and sanctions relief. Notably, Iran’s missile program is explicitly excluded from the current framework.

One of the biggest unresolved questions: approximately $24 billion in frozen Iranian assets. Iran wants them back. The US is using them as leverage.

The crypto angle no one’s talking about

In April 2026, US sanctions enforcement actions targeted approximately $344 million in Iran-linked digital assets, specifically on the Tether network. That represented one of the larger sanctions-related freezes in stablecoin history.

The freeze highlighted something the crypto industry has been grappling with for years: stablecoins like USDT aren’t as censorship-resistant as their users might hope. When the US government decides to block assets, centralized stablecoin issuers comply.

With a ceasefire framework in place and the possibility of sanctions relief on the table, the question becomes whether those frozen digital assets become part of the broader negotiation over Iran’s $24 billion in locked funds.

What this means for markets

The most immediate market impact is in oil. The reopening of the Strait of Hormuz, if it holds, should relieve some of the supply pressure that has kept energy prices elevated throughout the conflict.

The MOU is not a final peace deal. Anyone repositioning portfolios based on the assumption that the conflict is over should remember that the 60-day window is exactly that—a window. The $24 billion in frozen assets remains the number to watch. For crypto markets specifically, any movement on the $344 million in frozen Tether assets would serve as an early indicator of broader sanctions policy shifts.