SEC PH Issues VERITAS Guidelines for Blockchain Corporate Filings
The Philippine SEC has issued SEC Memorandum Circular No. 23 (Series of 2026) establishing rules for using VERITAS, its blockchain-based system for signing and verifying corporate filings. SEC Chairperson Francisco Ed. Lim signed the circular on July 27, 2026.
VERITAS will be accessed via the SEC Check mobile app and works alongside the eSECURE digital identity system. It applies to credentialed eSECURE account holders, including incorporators, directors, corporate officers, and authorized representatives submitting documents such as Articles of Incorporation, By-Laws, and Certificates of Authentication.
The SEC says VERITAS creates immutable audit trails by recording signing events on a decentralized ledger using public-key cryptography and cryptographic hashing. Only on-chain certificates generated by VERITAS may be used; externally issued commercial certificates are not allowed. After authorized signatories complete signing, the SEC appends a DICT-issued PNPKI Agency Certificate seal and a QR code, while version hashes are stored on-chain.
Under the Electronic Commerce Act (RA 8792), VERITAS-signed documents carry the same legal force as signed and notarized physical documents. Physical hard copies are not required unless explicitly mandated by existing laws or SEC rules. VERITAS use is currently optional and free, though the SEC may introduce fees later. The SEC also notes existing PNPKI authentication via the eSAP portal remains operational, but it may mandate VERITAS for specific entities or filings after consultations.
Neutral
This is a regulatory and infrastructure update focused on SEC document signing/verification (VERITAS) rather than a change to crypto market structure, token issuance, or exchange trading rules. For traders, any near-term effect is likely limited because the announcement does not directly touch listed assets, liquidity, or leverage.
That said, it is still a meaningful adoption signal for blockchain-based compliance in the Philippines. In the short term, traders may show mild attention to “regulatory progress” narratives, but historically such compliance-tech announcements rarely move major crypto prices. In the long run, steady movement toward on-chain audit trails and identity/KYC-compatible infrastructure can support broader ecosystem credibility, but it remains an indirect driver.
Overall, VERITAS strengthens the legal/operational plumbing for blockchain use in corporate filings, yet it does not introduce market-moving constraints or incentives for crypto assets—so the expected impact on price and volatility is neutral.