The Reserve Bank of India has banned financial institutions it regulates from providing services to any clients dealing with or settling cryptocurrencies. In a statement on new regulatory policies issued Thursday, the central bank said, “The Reserve Bank has repeatedly cautioned users, holders and traders of virtual currencies, including Bitcoins (BTC), regarding various risks associated in dealing with such virtual currencies.” The ban takes effect immediately. Regulated entities that already provide cryptocurrency-related services will be given a specified time to exit them. Read more here.