According to CoinMeta, as reported by The Economic Times of India, the Central Direct Tax Commission of India has updated the implementation guidelines for the Common Declaration Criteria (_CRS) to include specific crypto assets, central bank digital currencies, and digital currency products within the cross-border tax information declaration framework. Banks, mutual funds, insurance companies, custodian institutions, and other investment entities are required to identify accounts that need to be declared, verify the tax residency status of their customers, and submit relevant data in accordance with the Automatic Exchange of Financial Account Information (AEOI) mechanism. High-value accounts with balances exceeding one million US dollars are also subject to enhanced due diligence.