**Recent U.S.-Iran negotiations have centered on a memorandum of understanding (MoU) to extend a ceasefire, reopen the Strait of Hormuz, and launch further talks on nuclear issues, but progress has emphasized electronic or virtual signatures rather than a physical document.** As of mid-June 2026, U.S. officials including President Trump and Vice President JD Vance have referenced electronic signings by both sides, with Iranian Parliament Speaker Mohammad Bagher Ghalibaf noted as signing for Tehran. A formal ceremony was discussed for Geneva or Switzerland around June 19–20, yet statements indicate the core agreement may be released or treated as complete beforehand, potentially bypassing an in-person event. Trump has also floated sending the memo to Congress for review, adding procedural layers. These developments—combined with Iranian cautions that nothing is fully finalized and internal U.S. questions over verification—support trader consensus that a physical signing by Trump is unlikely. The market distinguishes between digital frameworks already advanced and a traditional handwritten signature on paper, amid ongoing uncertainty over final terms and timelines.