As I have been telling everyone all along, crowdfundraising of this size without proper legal filings was illegal. Obviously, they have been contacted by the proper regulatory agencies. This is why they have not been responding to questions regarding their investment structure in a detailed manner. They are reviewing their proposal internally with their attorneys. You can all thank me for at least being a voice for good judgement and hopefully they will proceed in manner does does not put your investments in jeopardy due to legal problems.
We were never contacted by a regulatory body nor believe the models we have chosen are in any way in violation with relevant jurisdictions. This said, logistically and regulatorily, there are differences between raising 5,000 bitcoin and 30,000 in an equitable and fair way. We have a duty to those who trust us to do things the right way and have been in deep discussions for months about this topic with counsel from three different countries. I appreciate your concerns and they are indeed important to address and will be publicly once we announce the new fundraising date.
There are actually several models we could pursue if desired with some constituting a tax event without the need for any filing and others that could require one if we choose to accept certain jurisdictions. Ultimately, it comes down to what is best for everyone in the Ethereum community and what will allow for the best ROI for those who participate in the Ethereum Project. We are taking extra time to ensure this is answered in the most thorough way.
In the meantime, enjoy the testnet and all the other developments we will be launching in February and I'll see you guys soon in Zug.