[India Expands Global Tax Reporting Rules to Cover Crypto Assets and Central Bank Digital Currencies] According to the Economic Times of India, the Central Board of Direct Taxes in India has revised the global tax reporting framework, extending the scope of the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) to include specific crypto assets, central bank digital currencies (CBDCs), and digital currency products. At the same time, due diligence requirements for financial institutions have been tightened. The updated compliance framework provides guidelines for banks, mutual funds, insurance companies, custodial institutions, and other investment entities on identifying reportable accounts, verifying tax residency, and reporting financial information. Financial institutions are also required to conduct enhanced due diligence on high-value accounts with balances exceeding $1 million.