PayPal clamps down on crypto purchases while trying to patent a virtual currency

Over the past month payments giant PayPal has been playing whack-a-mole with many cryptocurrency outlets. First, the Netherlands-based AnyCoinDirect saw its relationship with PayPal severed. Late last month, Coinbase announced it was pulling it support from the PayPal system. Even as far back as 2011, they were freezing nascent exchanges. Now the only exchanges that seem to work with PayPal are complicated, high-fee websites and most only allow you to buy and sell directly for fiat (in other words, they have no wallet function). And yet earlier this month, the U.S. Patent and Trademark Office published PayPal’s request for a virtual currency patent. Many users are unaware that PayPal previously…