CoinDesk: UPDATE: U.S. Treasury drops two high-profile crypto monitoring proposals, shelving ID checks for self-custody wallets and a crackdown on mixers

The U.S. Treasury's withdrawal of two major crypto surveillance proposals reduces near-term regulatory overhang: the abandoned rules would have expanded identity checks for self-custodied wallet transactions and increased scrutiny of mixer activity. The rollback is supportive for market structure and on-chain liquidity by lowering compliance uncertainty for exchanges, wallet providers, and users, potentially improving risk sentiment across major crypto assets.