Amid a fraught period for some high-profile United States crypto firms and financial regulators, Kraken chief legal officer Marco Santori is calling for a dose of pragmatism going forward. Speaking on Bloomberg’s QuickTake Stock broadcast on Thursday, Santori told viewers, “You’re living in a fantasy world if you don’t believe that this industry is going to face heavier, more Wall Street-like regulation from governments in the U.S. and abroad.” Santori’s comments follow threats by the U.S. Securities and Exchange Commission earlier this month to sue the well-known crypto exchange Coinbase over a crypto yield program the commission deemed to be a security. The move sparked the exchange’s CEO, Brian Armstrong, to adopt a combative and resistant stance on social media, although the exchange has since announced it will scrap the program at issue, in line with the SEC’s wishes.