The crypto industry is still in search of regulatory clarity.

The Digital Asset Market CLARITY Act failed its procedural Senate vote on Tuesday, falling short of the required 60 votes.

“Govt feels broken. 18 months of work between our industry, Democrats, and Republicans, and Clarity falls apart on the 5-yard line,” Galaxy Digital CEO Mike Novogratz — worth an estimated $5.8 billion — said in a new X post.

Added Novogratz, “All the issues got to a hard-fought compromise except one. On Ethics, both sides dug in and decided their stance was more important than the long-run good of a major industry and our country’s chance to lead it. Republicans were afraid of putting real limits on a…