Iran has committed to clearing mines from the Strait of Hormuz within 30 days of a peace deal with the United States, reopening one of the most strategically important waterways on the planet. The agreement, if finalized, would allow vessels from all nations to transit freely, with no fees attached.

Crypto markets didn’t wait for the ink to dry. Bitcoin surged roughly 3% on the news, and the broader digital asset market added approximately $75 billion in value as traders priced in the possibility of a meaningful de-escalation between Washington and Tehran.

What’s actually on the table

The core of the deal is straightforward: Iran removes the mines it deployed in the Strait of Hormuz, and in return, the path…