Decentralized finance platform Veda has appointed a former US Securities and Trade Fee (SEC) official to its ranks because 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 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) International 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 carried out 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 shifting into an advisory function.
“What drew me to crypto was the possibility 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 know-how, 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 helpful right 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.
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 properly earlier than the current regulatory shifts underneath the administration of US President Donald Trump.
As an illustration, former SEC Chair Jay Clayton joined crypto custodian Fireblocks as an adviser after leaving the company. He has since been appointed interim US Lawyer 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 regulation agency White & Case.
Extra just lately, 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 via 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 deliver larger regulatory certainty, probably laying the groundwork for broader adoption in the US.
Associated: Tokenized cash market funds emerge as Wall Avenue’s reply to stablecoins