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Veda Protocol has recruited former SEC senior counsel TuongVy Le as General Counsel, signaling its ambition to bridge decentralized finance with traditional regulatory frameworks. The move follows Veda's recent $18 million funding round backed by Coinbase Ventures and other major investors.
During her six-year SEC tenure, Le played pivotal roles in shaping early crypto policy, advising Congress on digital asset legislation while serving in both the Enforcement Division and Office of Legislative Affairs. Her involvement in landmark cases —— including actions against BitConnect and LBRY —— gives her unique insight into regulatory pain points.
"Blockchain represents more than assets —— it's rebuilding market infrastructure from scratch," Le told Cointelegraph. Her appointment comes as Veda reports 【$4 billion】 in total value locked across its cross-chain yield products.
The hire reflects a growing trend of former regulators migrating to crypto. Recent months have seen ex-SEC Chair Jay Clayton advise Fireblocks, while former CFTC head Chris Giancarlo joined digital bank Sygnum. This brain drain coincides with Washington's shifting stance —— evidenced by three pro-crypto bills advancing through Congress.
Veda's timing appears strategic. The protocol launched in 2024 specializing in tokenized DeFi instruments just as institutional demand surges. Le's regulatory expertise may prove invaluable navigating the SEC's ongoing scrutiny of decentralized platforms.
Industry observers note an emerging pattern: regulators-turned-advisors helping crypto firms anticipate policy shifts. Le's transition from policing ICOs to building compliant DeFi infrastructure exemplifies this revolving door phenomenon. Interestingly, her prior role at Anchorage Digital —— a regulated crypto custodian —— suggests Veda may be positioning itself for tighter compliance.
As the GENIUS Act takes effect and other bills progress, Veda's recruitment of regulatory talent could become a blueprint for DeFi projects seeking mainstream adoption. The move underscores crypto's paradoxical need —— disrupt finance while playing by its rules.