TuongVy Le (@TuongvyLe12) / X

TuongVy Le

1,919 posts

TuongVy Le

@TuongvyLe12

General Counsel @veda_labs, nerding out @DEXintheCityPod

Brooklyn, NY

Joined March 2021

TuongVy Le
@TuongvyLe12
Oct 13, 2022
Back in 2017 when I started working on crypto @SECgov, we saw mostly ICOs that looked like IPOs: teams selling tokens to the public to raise money to build protocols or apps that didn’t exist yet, w/ little to no disclosures so the public could know what they were getting into.
TuongVy Le
@TuongvyLe12
Jun 6, 2023
Let’s be clear: the @SECGov complaint doesn’t mention this, but there is currently NO way for a platform like @coinbase to register as a securities exchange, broker, or clearing agent. That’s why they’ve been begging @SECGov for YEARS to give them a path to compliance.
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TuongVy Le
@TuongvyLe12
May 12, 2025
1/ Today we’re publishing Crypto and the Evolution of the Capital Markets. Skeptics like to say crypto is a solution in search of a problem, but in reality, it’s an answer to a decades-old one that the traditional securities markets still haven’t fixed: the lack of a more direct,
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TuongVy Le
@TuongvyLe12
Oct 13, 2022
Replying to @TuongvyLe12
If viewing ALL of this through a securities lens ever made sense, it sure doesn’t now. Stubbornly clinging to the Howey test just b/c some people buy tokens for speculative purposes both ignores how far crypto has come and threatens the future of this incredible new technology.
TuongVy Le
@TuongvyLe12
Mar 6, 2023
To the @SECGov staff who know that crypto assets and services, by their very nature, can’t comply w/ existing securities regs, but feel they have no choice but to bring enforcement actions under existing law: there is a better way.
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TuongVy Le
@TuongvyLe12
Feb 5, 2024
Replying to @manatee73
Still one of the best songs ever, and no one will ever sing it like her
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TuongVy Le
@TuongvyLe12
Feb 12, 2023
Agreed. I was at the SEC and started working in crypto in 2017. Everyone was trying to wrap their heads around it then, including going after outright scams. It is now 2023. We should have come up with a working regulatory framework by now.
Justin Slaughter
@JBSDC
Feb 12, 2023
Replying to @JBSDC
Personally, I was pretty sympathetic to the SEC’s position five years ago (the questions posed by crypto are hard! Learning about a new space takes time), but have gotten less sympathetic since there’s been no progress on regulations over that time.
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TuongVy Le
@TuongvyLe12
Jun 6, 2023
Does anyone else think it's a problem that the head of the agency that has declared regulatory authority over all of crypto just said that he doesn't believe digital currencies should exist?
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TuongVy Le
@TuongvyLe12
May 16, 2022
gm! so excited to share that I’ve joined @BainCapCrypto as Partner and Head of Regulatory & Policy, where I’ll be advising our portfolio on regulatory issues, assessing potential investments, conducting research on crypto reg issues, and leading the fund’s advocacy efforts.👇
TuongVy Le
@TuongvyLe12
Jul 21, 2022
Can’t underscore enough how remarkable it is for a @CFTC Commissioner to call out a fellow regulator like this:
Caroline D. Pham
@CarolineDPham
Jul 21, 2022
Read my statement on #SEC v. Wahi, regulation by enforcement & #CFTC authority #crypto #digitalassets #DAO
TuongVy Le
@TuongvyLe12
Oct 13, 2022
Replying to @TuongvyLe12
While some argue these were never “investment contracts,” what’s undeniable now is how far crypto has come: it's a diverse and vibrant ecosystem of actively used protocols, layers, apps, & DAOs, and tokens can have different purposes, utility & functionality. A token can be:
TuongVy Le
@TuongvyLe12
Sep 13, 2023
One of my most prized possessions is this artwork I bought over a decade ago that now hangs in my dining room. It’s #4 of an edition of 60 similar (but not fungible) “etchings” from Richard Serra’s “Paths and Edges” series, produced in 2007. What if Serra had told me at the time,
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TuongVy Le
@TuongvyLe12
May 23, 2024
This is a key point. The reason the approval of the spot ETH ETFs is a clear indication that the SEC does not consider ETH a security is because funds whose assets are 40% or more securities may not register through a Form S-1; rather, they are considered investment companies and
Justin Browder
@jlb410
May 21, 2024
If any of the ETH spot ETFs go effective on Form S-1, the debate is over: ETH is not a security. There is no legal way for a fund whose assets consist (almost) entirely of securities to go effective on an S-1 (with one exception that doesn’t apply).
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TuongVy Le
@TuongvyLe12
Oct 13, 2022
Replying to @TuongvyLe12
✅ An incentive for people to participate in maintaining a public good – a decentralized public ledger - by checking transactions, verifying activity, voting on outcomes, or solving computations to verify transactions;