(From the Sprague for Secretary of State Campaign)

Today, Ohio Treasurer Robert Sprague announced that his supporters can now contribute to his Ohio Secretary of State campaign with Bitcoin, becoming the first campaign for statewide office in Ohio history to welcome cryptocurrency donations.

Today’s announcement follows the vote by the Ohio Board of Deposit, chaired by Treasurer Sprague, to approve Grant Street Group as the vendor tasked with preparing the state for the use of cryptocurrency as an accepted form of payment for state fees and transactions.

Said Treasurer Sprague, “Ohio has a long, storied history of innovation and technological advancement, and last month the State paved the way for digital currency to become a fixture in our state economy.  We should all be proud that Ohio has become a leader in financial technology, and I am excited that my campaign is joining the State of Ohio in breaking new ground on digital currencies.”

The campaign’s website, www.SpragueforOhio.com, is one of the few campaign sites with the capability of accepting crypto for donations. Upon receipt, the Sprague for Secretary of State campaign will not hold the Bitcoin donation; rather, the donation will be immediately converted to U.S. dollars, which will then be reported on campaign finance reports as a traditional contribution.  To avoid any appearance of impropriety, Sprague for Secretary of State will not accept any contributions from Grant Street Group.

In 2021, the Ohio Elections Commission issued an advisory opinion concerning the use of Bitcoin and cryptocurrencies as campaign contributions.  In it, the Commission considered cryptocurrency to be an acceptable form of an in-kind contribution, provided that the donation complies with campaign contribution limits.  Additional reporting requirements would be necessary if a campaign were to hold the digital currency over time, and the asset appreciated or depreciated in value.