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.”
