DeFi platform Veda has appointed TuongVy Le, a former senior counsel at the US Securities and Exchange Commission (SEC), as its new General Counsel. The move comes just weeks after Veda raised $18 million in fresh venture capital from major industry players like Coinbase Ventures, CoinFund, and Animoca Ventures.

The appointment marks a strategic move by Veda as it expands its crosschain DeFi offerings for institutional clients. With nearly $4 billion in total value locked (TVL), the platform aims to bridge the gap between traditional finance (TradFi) and decentralised products such as liquid staking tokens and yield-bearing stablecoins.

TuongVy Le: From SEC to DeFi

TuongVy Le brings a wealth of regulatory experience to Veda, having worked nearly six years at the SEC in several key roles, including Chief Counsel and Senior Adviser in the Enforcement Division and the Office of Legislative and Intergovernmental Affairs. She was directly involved in some of the SEC’s earliest enforcement actions against crypto projects, including BitConnect and LBRY.

Le’s background also includes advising on early drafts of digital asset legislation and serving on the Commodity Futures Trading Commission’s (CFTC) Global Markets Advisory Committee. Her insight into both crypto and regulation makes her uniquely positioned to guide Veda through the complex regulatory landscape.

“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.”

Building Bridges: TradFi Meets DeFi

Before joining Veda, Le served as General Counsel and Corporate Secretary at Anchorage Digital, a regulated crypto custody platform. Her transition into DeFi signals growing confidence among institutional players in the regulatory future of crypto markets.

“My experience in TradFi, the SEC, and across the crypto industry helps me bridge multiple worlds: bringing regulatory rigour to crypto while also helping policymakers understand what’s genuinely new and valuable here,” she said.

Veda, which launched in 2024, is focused on tokenising DeFi applications. The platform’s vault products offer diversified, on-chain exposure to yield strategies across multiple blockchains, an increasingly attractive proposition for institutional clients seeking reliable returns in the digital asset space.

Regulators Continue Crypto Migration

Le’s appointment is part of a larger trend: former regulators transitioning into crypto. This shift began even before the Trump administration’s pro-industry pivot. Former SEC Chair Jay Clayton, for example, now advises Fireblocks and was recently appointed interim US Attorney for the Southern District of New York.

Meanwhile, Ladan Stewart, previously a key figure in the SEC’s crypto litigation team, now advises blockchain clients at White & Case. Former CFTC Chair Chris Giancarlo, known in the industry as “Crypto Dad” has joined Sygnum Bank and also works with Paxos and other firms pushing digital asset adoption.

This wave of regulatory veterans entering the space aligns with the emergence of supportive legislation. Three major pro-crypto bills are now advancing through Congress:

• The CLARITY Act, which aims to define digital asset classifications,
• The GENIUS Act, signed into law by Trump this month to promote US stablecoin innovation, and
• The Anti-CBDC Surveillance State Act, which addresses privacy concerns tied to central bank digital currencies.

Legal Clarity Driving Institutional Growth

Veda’s expansion and Le’s appointment come at a critical moment for the DeFi industry. As institutions seek regulatory clarity before entering the space, experienced legal minds like Le are becoming essential.

Her dual fluency in policy and crypto could help Veda navigate upcoming shifts in US digital asset regulation and bolster its credibility among regulators and clients alike. With billions already in TVL and institutional interest on the rise, Veda’s legal foundation may now be as strong as its technical one.