Veda Appoints TuongVy Le as General Counsel
Veda, a decentralized finance (DeFi) platform, has bolstered its leadership by appointing TuongVy Le, a former high-ranking official at the US Securities and Exchange Commission (SEC), as its new general counsel. This strategic move, announced on Tuesday, is part of Veda’s initiative to enhance its crosschain yield offerings tailored for institutional investors.
TuongVy Le’s Background and Experience
TuongVy Le brings nearly six years of extensive experience from her time at the SEC, where she held roles as chief counsel and senior adviser in both the Enforcement Division and the Office of Legislative and Intergovernmental Affairs. During her tenure at the SEC, she played a pivotal role in shaping early digital asset legislation and was a member of the Commodity Futures Trading Commission’s (CFTC) Global Markets Advisory Committee.
Her involvement in landmark crypto enforcement cases, including actions against BitConnect and LBRY for operating unregistered securities offerings, signifies her deep understanding of regulatory frameworks affecting the crypto space.
Significant Contributions to DeFi
In 2021, while at the SEC, Le was instrumental in one of the agency’s first enforcement actions related to decentralized finance (DeFi), where Blockchain Credit Partners was charged with securities fraud. Before stepping into her role at Veda, Le served as general counsel and corporate secretary at Anchorage Digital, a notable player in crypto custody services.
“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 remarked in a statement to Cointelegraph. “Understanding blockchain technology revealed that it represents more than a new asset class—it’s about redefining market operations.”
She emphasized her goal to harmonize her extensive experience across traditional finance, regulatory environments, and the crypto sector to enhance compliance while elucidating the innovative potential of this emerging field.
Veda’s Recent Developments
Veda’s announcement of Le’s appointment follows a significant funding round, where the platform secured $18 million from a range of venture capital sources, including Coinbase Ventures, CoinFund, and Animoca Ventures. Founded in 2024, Veda is dedicated to tokenizing various DeFi applications like liquid staking tokens and yield-bearing stablecoins, currently managing nearly $4 billion in total value locked.
Trends in Regulatory Transitions
The trend of former regulators shifting into the crypto industry is becoming increasingly common, a practice that predates the regulatory changes under the administration of former President Trump. Notable transitions include former SEC Chair Jay Clayton joining crypto custodian Fireblocks, while Ladan Stewart, once the deputy crypto litigation lead at the SEC, now advises at the law firm White & Case. Additionally, Chris Giancarlo, a former CFTC Chair popularly known as “Crypto Dad,” has taken on advisory roles at Sygnum and other blockchain firms.
Future of Cryptocurrency Regulation
As regulatory discussions unfold in Congress, the passage of bills such as the GENIUS Act, which Trump recently signed into law, aims to provide clearer guidelines for the industry. Other notable legislative efforts, including the Digital Asset Market Clarity (CLARITY) Act and the Anti-CBDC Surveillance State Act, are expected to promote regulatory stability and facilitate wider adoption of cryptocurrency in the United States.
