Central Bank Digital Currencies Not 'Relevant Crypto-Assets' For CRS Reporting: CBDT
Manu Sharma
6 March 2026 12:43 PM IST
The Central Board of Direct Taxes (CBDT) has amended the Income Tax Rules, 1962, to clarify that Central Bank Digital Currencies (CBDCs) will not fall within the definition of “relevant crypto-assets” for Common Reporting Standard (CRS) framework.
The amendment forms part of the Income-tax (Amendment) Rules, 2026 notified on March 5, 2026 and the changes introduce new definitions and reporting provisions relating to crypto-assets, electronic money products and digital currencies under the Common Reporting Standard (CRS) framework.
The amendments were issued by the Central Government under powers conferred by Section 295 read with Section 285BA of the Income-tax Act, 1961, which deals with the furnishing of statements of financial transactions and reporting obligations.
The new rules came into force with effect from January 1, 2026.
The principal rules were published vide notification S.O. 969(E), dated the 26th March, 1962 and last amended vide notification GSR 598(E), dated the 01st September, 2025.