Decentralized finance platform Veda has appointed a former US Securities and Alternate Fee (SEC) official to its ranks because it ramps up efforts to develop crosschain yield merchandise aimed toward institutional traders.
TuongVy Le, who spent almost six years on the SEC as chief counsel and senior adviser within the Enforcement Division and the Workplace of Legislative and Intergovernmental Affairs, has joined Veda as common counsel, the corporate introduced Tuesday.
Throughout her SEC tenure, Le suggested Congress on early drafts of digital asset laws and served on the Commodity Futures Buying and selling Fee’s (CFTC) World Markets Advisory Committee.
In response to her LinkedIn profile, Le was concerned in among 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).
Throughout 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 one among its earliest DeFi-related enforcement actions, charging Blockchain Credit score Companions with securities fraud.
Earlier than becoming a member of Veda, Le was common counsel and company secretary at Anchorage Digital, a crypto custody platform, earlier than transferring into an advisory position.
“What drew me to crypto was the prospect to assist construct a monetary system that’s extra clear, programmable and accessible from the bottom up,” Le instructed Cointelegraph in a written assertion. “After I discovered about blockchain expertise, it was clear this wasn’t only a new asset class — it was an opportunity to reimagine how markets work.” She added:
“My expertise in TradFi, the SEC, and throughout the crypto {industry} helps me bridge a number of worlds: bringing regulatory rigor to crypto whereas additionally serving to policymakers perceive what’s genuinely new and beneficial right here.”
The appointment of Le got here one month after Veda secured $18 million in funding from a number of enterprise capital traders, together with Coinbase Ventures, CoinFund and Animoca Ventures.
Veda launched in 2024 as a protocol for tokenizing DeFi purposes, together with liquid staking tokens and yield-bearing stablecoins. The DeFi vault platform has almost $4 billion in complete worth locked.
Associated: 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 inside the crypto {industry}, many effectively earlier than the latest regulatory shifts beneath the administration of US President Donald Trump.
As an example, former SEC Chair Jay Clayton joined crypto custodian Fireblocks as an adviser after leaving the company. He has since been appointed interim US Legal professional 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 purchasers as a companion at regulation agency White & Case.
Extra not too long ago, former CFTC Chair Chris Giancarlo joined digital asset financial institution Sygnum as an adviser. Giancarlo, typically 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 acquire floor as three pro-industry payments work their approach by means of Congress, one among which, the GENIUS Act, Trump signed into regulation this month.
The Digital Asset Market Readability (CLARITY) Act, the Guiding and Establishing Nationwide 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 in the US.
Associated: Tokenized cash market funds emerge as Wall Avenue’s reply to stablecoins
