A proposal has emerged within the U.S. securities regulator to simplify corporate disclosure rules and allow limited experiments with tokenised securities.

Cointelegraph reported on Thursday that U.S. Securities and Exchange Commission Commissioner Hester Peirce (헤스터 피어스) said in a speech to the Investor Advisory Committee in Washington that corporate disclosure rules should be simplified and that regulators should consider an "innovation exemption" for tokenised securities.

Peirce said regulators should be wary of a tendency to try to control markets excessively. She stressed the need to overhaul disclosure requirements more efficiently as discussion of tokenised securities expands. She said public companies can spend too much time and resources preparing mandatory disclosures, potentially confusing investors rather than providing clear information.

Peirce is seen as relatively friendly to the digital asset industry and is nicknamed "Crypto Mom" in the sector. In her speech, she cited Adam Smith's economic principles and stressed that regulators should minimise constraints in the process of shaping market outcomes.

She also said discussions are expanding on blockchain-based financial infrastructure and tokenised securities. She explained that regulators may need to allow limited experiments while assessing how existing securities laws apply to blockchain markets. The so-called innovation exemption is a method of making regulatory application flexible for a certain period so new financial technology can be tested.

Peirce said a review is also needed on whether tokenised securities require additional disclosure obligations or broker regulation. She noted that blockchain systems can enable fast trade settlement and, in some cases, allow transactions without traditional intermediaries.

Within the SEC, there are also views that regard tokenisation as a key financial innovation. SEC Chair Paul Atkins last year called tokenisation an important change in financial markets and said regulators should encourage it rather than suppress it.

As part of the move, the SEC issued a no-action letter to the Depository Trust & Clearing Corporation (DTCC) in December last year. It means regulators would not recommend enforcement action even if DTCC runs a blockchain-based tokenisation service on a trial basis, and is interpreted as supporting infrastructure experiments to settle traditional securities on a blockchain basis.

In the United States, policy discussions related to tokenisation are under way alongside a bill to reform crypto market structure. The industry sees these regulatory discussions as likely to play an important role in shaping the future supervisory framework for the U.S. digital asset market.