Decentralized finance platform Veda has appointed a former US Securities and Exchange Commission (SEC) official to its ranks as it ramps up efforts to expand crosschain yield products aimed at institutional investors.
TuongVy Le, who spent nearly six years at the SEC as chief counsel and senior adviser in the Enforcement Division and the Office of Legislative and Intergovernmental Affairs, has joined Veda as general counsel, the company announced Tuesday.
During her SEC tenure, Le advised Congress on early drafts of digital asset legislation and served on the Commodity Futures Trading Commission’s (CFTC) Global Markets Advisory Committee.
According to her LinkedIn profile, Le was involved in some of the SEC’s earliest crypto enforcement actions.
She served in the SEC’s Enforcement Division from 2016 to 2021 — a pivotal period in the agency’s crackdown on unregistered securities offerings tied to initial coin offerings (ICOs).
During that time, the SEC brought actions against the promoters of BitConnect’s lending program and against LBRY, alleging both conducted unregistered securities offerings. In 2021, the agency also initiated one of its earliest DeFi-related enforcement actions, charging Blockchain Credit Partners with securities fraud.
Before joining Veda, Le was general counsel and corporate secretary at Anchorage Digital, a crypto custody platform, before moving into an advisory role.
“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 told Cointelegraph in a written statement. “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 came one month after Veda secured $18 million in funding from several venture capital investors, including Coinbase Ventures, CoinFund and Animoca Ventures.
Veda launched in 2024 as a protocol for tokenizing DeFi applications, including liquid staking tokens and yield-bearing stablecoins. The DeFi vault platform has nearly $4 billion in total value locked.
Related: SEC Chair Atkins considers innovation exemption to boost tokenization
Former regulators migrated to crypto even before the Trump-era policy shift
A growing number of former US regulatory officials have transitioned into roles within the crypto industry, many well before the recent regulatory shifts under the administration of US President Donald Trump.
For instance, former SEC Chair Jay Clayton joined crypto custodian Fireblocks as an adviser after leaving the agency. He has since been appointed interim US Attorney for the Southern District of New York.
Ladan Stewart, who previously served as deputy crypto litigation lead in the SEC’s Enforcement Division, now advises crypto clients as a partner at law firm White & Case.
More recently, former CFTC Chair Chris Giancarlo joined digital asset bank Sygnum as an adviser. Giancarlo, often nicknamed “Crypto Dad,” has also held advisory roles at Paxos and other blockchain ventures.
Regulatory veterans from before the Trump era are now watching crypto gain ground as three pro-industry bills work their way through Congress, one of which, the GENIUS Act, Trump signed into law this month.
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 expected to bring greater regulatory certainty, potentially laying the groundwork for broader adoption in the United States.
Related: Tokenized money market funds emerge as Wall Street’s answer to stablecoins
