# Australia's current legislation

**URL:** <https://bisq.community/t/australias-current-legislation/684>\
**Category:** Legal/Compliance\
**Created:** [September 25, 2016, 6:44am UTC](https://bisq.community/t/australias-current-legislation/684 "2016-09-25T06:44:59Z")\
**Posts on this page:** 5\
**Page:** 1

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**Author:** ![coinstash](https://bisq.community/user_avatar/bisq.community/coinstash/32/213_2.png) [@coinstash](https://bisq.community/u/coinstash)\
**Post date:** [September 25, 2016, 6:44am UTC](https://bisq.community/t/australias-current-legislation/684/1 "2016-09-25T06:44:59Z")

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Disclaimer: This should not be construed as legal advice.

It is my understanding that trades from fiat to crypto currencies and back are not notifiable per KYC/AML legislation in amounts under AUD1000.00

Therefore even if Bitsquare were directly handling the fiat currency - which it does not - there would still be no issues to deal with, at the current exchange limits.

As evidence of this, see [https://www.livingroomofsatoshi.com/](https://www.livingroomofsatoshi.com/) where any bill under AUD1000.00 can be paid with bitcoin.

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**Author:** ![ManfredKarrer](https://bisq.community/user_avatar/bisq.community/manfredkarrer/32/26_2.png) [@ManfredKarrer](https://bisq.community/u/ManfredKarrer)\
**Post date:** [September 25, 2016, 11:08pm UTC](https://bisq.community/t/australias-current-legislation/684/2 "2016-09-25T23:08:07Z")

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Yes that confirms to that what I heard that low amounts are outside of KYC/AML requirements. That is another reason (thought not the main reason) we keep the trade limit low to not trigger any pointless problems…

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**Author:** ![mepistol](https://bisq.community/user_avatar/bisq.community/mepistol/32/39_2.png) [@mepistol](https://bisq.community/u/mepistol)\
**Post date:** [September 26, 2016, 5:34am UTC](https://bisq.community/t/australias-current-legislation/684/3 "2016-09-26T05:34:20Z")

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In many places these low limits without KYC/AML are limits/day. So low limits in Bitsquare help a lot but is not a complete answer. Better is the fact that the trades occur between individuals and I would assume individuals are under much less obligation to report trades.

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**Author:** ![coinstash](https://bisq.community/user_avatar/bisq.community/coinstash/32/213_2.png) [@coinstash](https://bisq.community/u/coinstash)\
**Post date:** [September 26, 2016, 5:36am UTC](https://bisq.community/t/australias-current-legislation/684/4 "2016-09-26T05:36:53Z")

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Banks will flag persistent activity, even if it’s under the minimum amount. I suggest proceeding with caution anyhow.

We crypto user are all terrorists, you know.

LOL

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**Author:** ![Conza](https://bisq.community/user_avatar/bisq.community/conza/32/2807_2.png) [@Conza](https://bisq.community/u/Conza)\
**Post date:** [March 22, 2022, 6:40am UTC](https://bisq.community/t/australias-current-legislation/684/6 "2022-03-22T06:40:24Z")

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This still true?