DeFi protocol Veda has appointed former US Securities and Exchange Commission (SEC) senior counsel TuongVy Le as its new General Counsel, signalling its intent to deepen regulatory compliance as it expands offerings targeted at institutional investors.

The announcement comes just weeks after Veda secured $18 million in funding from top-tier investors including Coinbase Ventures, CoinFund, and Animoca Ventures. Le’s arrival marks a pivotal moment for the protocol as it seeks to bridge traditional finance (TradFi) standards with decentralised innovation.

TuongVy Le brings with her nearly six years of experience at the SEC, where she worked in both the Enforcement Division and the Office of Legislative and Intergovernmental Affairs. Her portfolio included shaping early digital asset legislation and advising on some of the SEC’s most high-profile crypto enforcement actions.

SEC Veteran’s Crypto Journey Comes Full Circle

During her SEC tenure from 2016 to 2021, Le was directly involved in landmark cases such as those against BitConnect and LBRY, both of which were charged with unregistered securities offerings. She also helped initiate one of the SEC’s earliest DeFi-related enforcement actions in 2021, targeting Blockchain Credit Partners for securities fraud.

TuongVy Le | General Counsel at Veda

Before joining Veda, she served as General Counsel and Corporate Secretary at Anchorage Digital, a regulated crypto custody platform. Her move to Veda reflects a growing trend of seasoned regulators transitioning into crypto, bringing critical legal insights to the fast-evolving space.

Speaking to Cointelegraph, Le shared her motivations:

“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.”

She added that her regulatory and TradFi background allows her to “bridge multiple worlds” combining compliance expertise with an appreciation for the innovation blockchain offers.

Veda Expands as Institutions Eye DeFi

Founded in 2024, Veda is a crosschain protocol focused on tokenising DeFi applications such as yield-bearing stablecoins and liquid staking tokens. The platform currently holds nearly $4 billion in total value locked (TVL), reflecting growing institutional interest in decentralised finance.

Veda’s total value locked. Source: DeFiLlama

Veda’s recent $18 million capital injection will support its expansion into new yield-generating DeFi products designed specifically for institutions. With Le on board, Veda aims to operate within a clear legal framework, addressing one of the main barriers to institutional adoption: regulatory uncertainty.

Her appointment is expected to enhance Veda’s credibility among policymakers and investors alike, especially as the company explores launching regulated products in multiple jurisdictions.

Regulators Turn Crypto Allies Amid Legal Shifts

Le is part of a broader wave of former US regulatory officials moving into crypto roles. This shift, which began even before the Trump administration’s recent crypto-friendly stance, reflects growing confidence in blockchain’s potential.

Former SEC Chair Jay Clayton

Former SEC Chair Jay Clayton now advises Fireblocks, a crypto custodian, and was recently appointed interim US Attorney for the Southern District of New York. Meanwhile, ex-CFTC Chair Chris Giancarlo, famously dubbed “Crypto Dad” has taken advisory roles at Sygnum and Paxos.

Other former regulators, like Ladan Stewart, have moved into crypto litigation and compliance roles at major law firms, aiding clients navigating the evolving regulatory landscape.

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

This migration comes as three major pro-crypto bills progress through Congress:

• The CLARITY Act, aimed at defining digital assets in law

• The GENIUS Act, promoting innovation in US stablecoins

• The Anti-CBDC Surveillance State Act, which seeks to limit government overreach via digital currencies

Trump recently signed the GENIUS Act into law, further signalling the federal government’s shift toward a more structured and supportive environment for digital assets.

Veda Positions Itself for Regulatory Resilience

Veda’s strategic hire reflects the DeFi sector’s maturing approach to regulation. With institutions demanding clarity before diving into decentralised ecosystems, the presence of a seasoned legal expert like TuongVy Le offers assurance.

As regulatory frameworks crystallise in the US and beyond, platforms like Veda that invest early in compliance infrastructure may emerge as leaders in the next wave of institutional DeFi adoption.