Personal income generated in another country, does not exempt you from paying taxes in your country of origin. They might use the Virgin Islands as a tax haven, but they can still be held liable for the tax income and the penalties, if they are caught. As TheQuin said, most unregistered gambling sites do this, but at one stage they grow too big and then people start knocking at your door. 

Freebitco is currently operating as a Bank / Gambling site / Unregistered Business and I bet you, they not paying any taxes. They might want to legitimize this operation now, by re-branding the site.