Former SEC official joins Veda as General Counsel amid DeFi expansion

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Decentralized finance platform Veda has appointed a former US Securities and Exchange Commission (SEC) official to its ranks as it ramps up efforts to increase crosschain yield merchandise aimed toward institutional buyers.

TuongVy Le, who spent practically six years on the SEC as chief counsel and senior adviser within the Enforcement Division and the Office of Legislative and Intergovernmental Affairs, has joined Veda as common counsel, the corporate introduced Tuesday.

During her SEC tenure, Le suggested Congress on early drafts of digital asset laws and served on the Commodity Futures Trading Commission’s (CFTC) Global Markets Advisory Committee.

According to her LinkedIn profile, Le was concerned in a number of the SEC’s earliest crypto enforcement actions.

She served within the SEC’s Enforcement Division from 2016 to 2021 — a pivotal interval within the company’s crackdown on unregistered securities choices tied to preliminary coin choices (ICOs). 

During that point, the SEC introduced actions in opposition to the promoters of BitConnect’s lending program and in opposition to LBRY, alleging each performed unregistered securities choices. In 2021, the company additionally initiated considered one of its earliest DeFi-related enforcement actions, charging Blockchain Credit Partners with securities fraud.

Before becoming a member of Veda, Le was common counsel and company secretary at Anchorage Digital, a crypto custody platform, earlier than shifting into an advisory position.

“What drew me to crypto was the chance to help build a financial system that’s more transparent, programmable and accessible from the ground up,” Le instructed Cointelegraph in a written assertion. “When I learned about blockchain technology, it was clear this wasn’t just a new asset class — it was a chance to reimagine how markets work.” She added:

“My experience in TradFi, the SEC, and across the crypto industry helps me bridge multiple worlds: bringing regulatory rigor to crypto while also helping policymakers understand what’s genuinely new and valuable here.”

The appointment of Le got here one month after Veda secured $18 million in funding from a number of enterprise capital buyers, together with Coinbase Ventures, CoinFund and Animoca Ventures. 

Veda launched in 2024 as a protocol for tokenizing DeFi functions, together with liquid staking tokens and yield-bearing stablecoins. The DeFi vault platform has practically $4 billion in whole worth locked. 

Veda’s whole worth locked. Source: DeFiLlama

Related: SEC Chair Atkins considers innovation exemption to spice up tokenization

Former regulators migrated to crypto even earlier than the Trump-era coverage shift

A rising variety of former US regulatory officers have transitioned into roles throughout the crypto {industry}, many properly earlier than the latest regulatory shifts beneath the administration of US President Donald Trump.

For occasion, former SEC Chair Jay Clayton joined crypto custodian Fireblocks as an adviser after leaving the company. He has since been appointed interim US Attorney for the Southern District of New York.

Ladan Stewart, who beforehand served as deputy crypto litigation lead within the SEC’s Enforcement Division, now advises crypto shoppers as a companion at legislation agency White & Case.

More just lately, former CFTC Chair Chris Giancarlo joined digital asset financial institution Sygnum as an adviser. Giancarlo, usually nicknamed “Crypto Dad,” has additionally held advisory roles at Paxos and different blockchain ventures.

Regulatory veterans from earlier than the Trump period are actually watching crypto achieve floor as three pro-industry payments work their means by Congress, considered one of which, the GENIUS Act, Trump signed into legislation this month.

Lawmakers vote to cross the CLARITY Act on July 17. Source: US House of Representatives

The Digital Asset Market Clarity (CLARITY) Act, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act and the Anti-CBDC Surveillance State Act are anticipated to convey better regulatory certainty, doubtlessly laying the groundwork for broader adoption within the United States.

Related: Tokenized cash market funds emerge as Wall Street’s reply to stablecoins

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