The US has stepped back from newly introduced conditions in its draft agreement with Iran, clearing a path toward what could become a 60-day memorandum of understanding to extend the regional ceasefire and open the door to nuclear talks. Iran has not yet formally responded to the revised terms.
But the traditional geopolitics here come with a distinctly crypto-flavored subplot. US Treasury Secretary Scott Bessent confirmed on May 30 that the government seized approximately $1B in Iranian cryptocurrency assets by directly accessing Iranian wallets. That’s not a freeze. That’s a reach-into-your-pocket-and-take-it move.
What the deal actually looks like
The framework, confirmed by Axios and Reuters on May 28, centers on a 60-day MOU designed to extend the current ceasefire. It would also kick off follow-on discussions about Iran’s nuclear program and shipping access through the Strait of Hormuz.
President Trump remarked on May 23 that the deal was “largely negotiated.” Subsequent reporting, however, showed that sticking points around nuclear commitments and Hormuz access persisted into late May.
