The Securities and Exchange Commission (SEC) of the Philippines has introduced new regulations allowing companies and other registered entities to digitally sign and authenticate regulatory documents using a blockchain-powered platform. The move is intended to modernize the submission process, strengthen document security, and improve the efficiency of interactions with the regulator through trusted digital verification.
VERITAS to Integrate With Existing SEC Online Filing Platforms
Under SEC Memorandum Circular No. 23, Series of 2026, the regulator has established the Verification of Electronic Records and Information Trust and Authentication System (VERITAS). The new platform will be integrated with the SEC’s Electronic SEC Universal Registration Environment (eSECURE) and the Electronic Submission Authentication Portal (eSAP), creating a more secure digital ecosystem for corporate filings.
The SEC stated that VERITAS will integrate blockchain technology into its eSECURE and eSAP platforms, advancing digital governance while supporting regulatory innovation, fraud prevention, and investor protection. According to the circular, the initiative aligns with internationally recognized digital governance practices and is designed to enhance the integrity of electronic submissions while reducing the risk of document fraud.
The new system will enable credentialed eSECURE users, including incorporators, directors, corporate officers, and other authorized representatives, to digitally execute documents required by the SEC. Eligible filings include articles of incorporation, corporate bylaws, certificates of authentication, and additional documents that the regulator may designate for digital authentication in the future.
The SEC explained that documents digitally signed and authenticated through VERITAS will be recognized as properly executed and authentic for transactions involving the commission. It further stated that, in accordance with the Electronic Commerce Act, these electronically authenticated documents will carry the same legal validity and enforceability as traditionally signed and notarized documents, except in situations where existing laws specifically require notarization or another prescribed form of authentication.
Although digitally authenticated documents will serve as the official records for SEC transactions, the regulator noted that existing regulations may still require the submission of physical copies in certain circumstances. As a result, the transition to fully digital documentation will continue alongside current compliance requirements where applicable.
VERITAS records every document-signing event on a blockchain ledger and requires users to complete the eSECURE credentialing process before obtaining digital signing certificates generated exclusively within the platform. By maintaining blockchain-based records of authentication activities, the system is intended to create a transparent and tamper-resistant audit trail for regulatory filings.
The SEC clarified that the use of VERITAS will initially remain optional. Organizations that prefer the existing authentication process may continue using the Philippine National Public Key Infrastructure (PNPKI)-based verification system through eSAP. However, the regulator indicated that it may mandate VERITAS for specific filings or categories of registered entities in the future through a separate issuance following public consultation.
The circular also emphasized the responsibilities of users in protecting their digital signing certificates and private cryptographic keys. The SEC warned that access to eSECURE could be suspended for individuals found to have misused digital credentials, manipulated blockchain records, or submitted falsified documents, underscoring the commission’s focus on maintaining the integrity of its digital filing environment.
The SEC also announced that VERITAS will initially be offered at no cost, while reserving the authority to introduce reasonable service fees in the future to support network infrastructure and application maintenance if necessary.
The introduction of VERITAS represents another step in the SEC’s broader digital transformation strategy, combining blockchain technology with existing electronic filing systems to improve regulatory efficiency, strengthen document authenticity, and enhance trust in digital corporate transactions.