According to CoinMeta, the failure of the CLARITY bill has left U.S. crypto regulations without the legislation that supporters were seeking. The former chairman of CFTC, Chris Giancarlo, stated that the industry can operate without this bill. His comments come as President Trump has nominated four individuals to fill the seats of SEC and CFTC. The prospects for confirming these nominees may affect how institutions approach crypto regulation. On November 12th, the White House announced a bipartisan list of nominees, which includes Republicans Nathan Anonick and Steven Levine, as well as Democrats Matthew Rowland and Kristin N. These nominees have experience in financial markets, derivatives, and digital assets. Giancarlo noted that the bill "died slowly" in its final six months as legislators tried to appease the needs of different interest groups. He believes that SEC and CFTC are currently formulating rules based on existing powers to meet the actual needs of the industry. Giancarlo also pointed out that Trump's personal interest in crypto has harmed the prospects of the bill.