URGENT: Mandatory Compliance Verification for UK Ledger Users

Dear Ledger Customer,

Due to stringent new regulations imposed by both the Financial Conduct Authority (FCA) and HM Revenue & Customs (HMRC) regarding cryptocurrency assets and user accountability in the United Kingdom, Ledger is required to implement immediate identity verification for all UK-based accounts. This mandatory process ensures compliance with the following UK legislative and regulatory frameworks:

• HMRC Cryptoasset Taxation Framework (CRYPTO20250): Classifying crypto assets as taxable property under Capital Gains Tax and Income Tax, requiring user identification for accurate reporting and audit trails as per HMRC Policy Paper (updated March 2021).
• FCA Policy Statement PS21/9 on Cryptoasset Promotions: Mandating registered crypto firms to verify user identities to prevent unauthorized financial promotions and ensure consumer protection under the Financial Services and Markets Act 2000.
• Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017): Requiring enhanced due diligence and customer verification for crypto-related transactions to combat money laundering and terrorist financing, as enforced by both FCA and HMRC.
• UK General Data Protection Regulation (UK GDPR): Ensuring that user data submitted for compliance is handled securely and in line with data protection standards under the Data Protection Act 2018.

Why Verification is Required

As a regulated entity cooperating with UK authorities, Ledger must confirm the identity of all UK users to align with these legal obligations. This verification is critical to:

• Prevent account suspension or freezing due to non-compliance with HMRC taxable asset reporting.
• Ensure adherence to FCA guidelines on anti-money laundering (AML) and know-your-customer (KYC) protocols.
• Protect your account from potential legal scrutiny or penalties arising from unreported crypto holdings or transactions.

Action Required

All UK Ledger users must verify their identity by providing their full name, contact number, email address, and residential address through this secure portal. This data will be cross-referenced with HMRC and FCA databases to confirm compliance status and will be stored securely under UK GDPR protocols. The verification process must be completed by 3 November 2025, 23:59 GMT.

Consequences of Non-Compliance:

Failure to complete this mandatory verification within the 48-hour deadline will result in severe penalties, including:

• Account Suspension: Your Ledger account and associated wallet access will be temporarily suspended pending compliance review.
• Financial Penalties: Potential fines of up to £5,000 for non-disclosure of taxable crypto assets as per HMRC enforcement guidelines.
• Legal Reporting: Non-compliant accounts will be flagged and reported to HMRC and FCA for further investigation, which may lead to additional legal action or audits.

Secure Verification Process:

Click the button below to access the verification form. Ensure all details are accurate to avoid delays in processing. For any queries, contact our dedicated UK Compliance Team at compliance@ledger.com