Bankrupt cryptocurrency lending platform BlockFi has sued Connecticut Banking Commissioner Jorge Perez in New Jersey Bankruptcy Court, claiming that state regulators have repeatedly refused to accept BlockFi’s abandonment of the Connecticut money transmitter license it has held since April 2020, Decrypt reported. Since March, a BlockFi attorney has repeatedly called a lawyer for the Connecticut banking division and was told that the company would need to pay a $1 million penalty if it wanted to avoid court action. "The department's actions to revoke licenses and assess fines are in pursuit of its monetary interests, not to protect public health, safety, or welfare," BlockFi said in the lawsuit.