Ethereum Foundation - A Swiss Corporation founded by US citizens for tax evasion

[Gnosis7777]

Doing research it turns out 'Ethereum Foundation' is a corporation in Switzerland and was in fact founded by over half US citizens. Why would US citizens form a Swiss Corporation unless the point is to evade the US taxes?

https://www.zefix.ch/de/search/entity/list/firm/1188682?name=ethereum

Day Registration no. 9797 of 26.07.2016 / CHE-292.124.800

Legal form: Foundation
UID: CHE 292124800
CHID: CH17070007581
EHRA ID: 1188682
Competent office: Commercial register and bankruptcy office of the Canton of Zug

The real masterminds behind Ethereum are Americans!:

To three; Gerring, Taylor, American citizen,
In Chicago (US), member of the board of trustees
Levitin, Vadim, American citizen,
In Las Vegas (US), member of the Board of Trustees
Chan, Siu-Ming, American citizen,
In Zug, Director, with individual signature.


It also turns out Vitalik is now running the Ethereum business out of Singapore, is he hiding from the Tax man too?

Competent office: Commercial register and bankruptcy office of the Canton of Zug
Peoples registration new or modified: Buterin, Vitali, Canadian national, in Singapore (SG),



With the SEC declaring ICOs' illegal, with Ethereum itself having a major ICO (illegal in US), and with the whole scheme launched by US citizens, will the US authorities be coming for them?

It seems Vitalik is just the front-man for this group of Americans who really formed Ethereum.

[1715413469]

1715413469

[Gnosis7777]

https://ch.linkedin.com/in/mingchan88

[TimeHacker]

Well, I don't know if they want to evade US taxes, but they would be stupid if they didn't try to evade taxes in general. (In a legal way, of course)

[Gnosis7777]

Yea but they setup 'Ethereum Foundation' as a NOT FOR PROFIT Swiss Corporation.

These people have clearly made ALOT of PROFIT from Ethereum.

[JeffBrad12]

Yea but they setup 'Ethereum Foundation' as a NOT FOR PROFIT Swiss Corporation.

These people have clearly made ALOT of PROFIT from Ethereum.

A non-profit swiss corporation but some of the people already made a lot of stupid.  But i can say not only these people but all of the ico participant already made a profit from there. Those people around the world have joined the ethereum foundation crowd sale.

[Gnosis7777]

Ethereum Foundation is a Swiss Corporation known as a 'Stiftung'

From the Swiss Commercial Registrar:


Stiftung Ethereum  (Foundation Ethereum)

https://en.wikipedia.org/wiki/Stiftung
A stiftung foundation exists to give effect to the stated, non-commercial wishes of its founder....Stiftung are purely not for profit enterprises and commercial activities are generally not permitted to be conducted by them.


So is this like a running joke? These people became multimillionaires from the commercial Ethereum Foundation ICO and setup a 'not for profit' corporation to avoid taxes?

How is this legitimate in any way shape or form?

[dennyd999]

Intel and Microsoft laundering taxes in Ethereum network?

And thats why today 14 bigest law corps  with total more than 20 billions revenue joined EEA.


If so, let it be. I dont care if Eth will cost 1000$ to the end of this year.

Bitcoin and even plain $$ is used by criminals too.

Its life.

[Gnosis7777]

Intel and Microsoft laundering taxes in Ethereum network?

And thats why today 14 bigest law corps  with total more than 20 billions revenue joined EEA.


If so, let it be. I dont care if Eth will cost 1000$ to the end of this year.

Bitcoin and even plain $$ is used by criminals too.

Its life.

In Commercial Law, this is considered the 'ordinary course of business' - It's not on the investor to do the due diligence, so they do have an alibi (plausible deniability; didn't know, didn't want to know.)

In the due course of things, it would appear someone is going to end up being the fall guy, because this thing was launched/issued and sold as a product/stock/security and people got rich, definitely for profit.

The cookie is going to crumble eventually. The investor companies won't be the liable party, the creator/issuer will be.

[Gnosis7777]

SEC declares ICO's illegal, even mentions Ethereum & the DAO, but says 'for now' they aren't pursuing them... this is just the SEC who deals in securities frauds, these people also didn't pay their 'for-profit' taxes 

So is 'Ethereum Foundation' liable for their initial ICO & all of the hundreds of subsequent ICO's launched on their platform, and taxes?  

It would seem they made alot of profit, for having a not for profit corporation.

https://www.sec.gov/litigation/investreport/34-81207.pdf

[Gnosis7777]

[noormcs5]

So basically you're asking us to judge a service based upon the ownership. So if McDonald's was owned by a different person or a different group of individuals, Suddenly there food would taste different? Companies are open for whatever reason they're open for, if the service or the product suit your needs then use it if not then do not.

[Gnosis7777]

So basically you're asking us to judge a service based upon the ownership. So if McDonald's was owned by a different person or a different group of individuals, Suddenly there food would taste different? Companies are open for whatever reason they're open for, if the service or the product suit your needs then use it if not then do not.

Why would I ask anyone to do anything? Everyone should make up their own mind based on the facts. I notice you admit Ethereum is a corporation, and sold a product/security? Why then, didn't they abide by the corporate laws then when they sold and launched Ethereum? Why did they hide their for-profit status under the guise of a non profit? McDonalds has to abide by the law, else people would be getting sick. So which is it, a centralized corporation that sells something, or a decentralized one? Can't have both. Proof is right in front of you.

[Gnosis7777]

https://bitcointalk.org/index.php?topic=1962536.msg20944757#msg20944757

[Gnosis7777]

No private persons got rich from Ethereum right? It all went to charity?

https://www.irs.gov/charities-non-profits/charitable-organizations/exemption-requirements-section-501c3-organizations

Organizations described in section 501(c)(3) are commonly referred to as charitable organizations.

[Elpeor00]

Dude, as the states gov taxes by nationality and no by territoriality I actually can not respect an american bussines person who NOT evade taxes, the system is just unfair 

[shyliar]

It was always to avoid regulation. The Swiss have lax financial laws. The US still believes their law Trumps any other country's law on the planet though and will hunt you down anywhere.