THE Securities and Exchange Commission (SEC) has issued rules allowing corporations and other registered entities to make use of a blockchain-based system to digitally sign and authenticate documents submitted to the regulator.
SEC Memorandum Circular No. 23, Series of 2026, introduces the Verification of Electronic Records and Information Trust and Authentication System (VERITAS), which is able to integrate with the commission’s Electronic SEC Universal Registration Environment (eSECURE) and Electronic Submission Authentication Portal (eSAP).
“The mixing of VERITAS into the eSECURE and eSAP platforms represents a forward-looking enhancement that aligns with global best practices in digital governance and supports the Commission’s commitment to regulatory innovation, fraud prevention, and investor protection,” the circular said.
The platform will allow credentialed eSECURE users, including incorporators, directors, officers, and authorized representatives, to digitally sign SEC-related documents.
Eligible filings include articles of incorporation, bylaws, certificates of authentication, and other documents that the commission may designate for digital authentication.
“Documents digitally signed and authenticated through VERITAS shall be accepted as duly signed and authentic copies for purposes of SEC transactions. Pursuant to ECA, such documents shall have the identical legal effect and enforceability as a signed and notarized written document, unless a selected provision of law explicitly requires notarization or one other type of authentication,” the circular said.
The SEC said digitally signed documents will serve because the official record, although hard copies should be required under existing rules.
VERITAS records document-signing events on a blockchain and requires users to finish the eSECURE credentialing process before they’ll digitally sign documents. The platform will initially accept only digital signing certificates generated inside VERITAS.
Use of VERITAS will remain optional, with the present Philippine National Public Key Infrastructure (PNPKI)-based authentication process through eSAP continuing to be available.
The SEC said it might later require the mandatory use of VERITAS for specific filings or entities through a separate issuance following public consultation.
The circular also states that users are liable for safeguarding their digital signing certificates and personal keys. The SEC may suspend access to eSECURE for users found to have misused digital credentials, tampered with blockchain records, or submitted falsified documents.
“Using VERITAS shall be provided freed from charge; Provided, nevertheless, that the Commission reserves the best to impose reasonable fees, through an appropriate issuance, as could also be mandatory to defray costs related to the system network infrastructure and application services,” the circular said. — Alexandria Grace C. Magno