Considering that Bitcoin is an open source project, anyone can actually modify the client and release updates. It's up to the users to decide whether to adopt the update or not. I think if any local laws were impeding the progression of Bitcoin in some way, an offshore team could then move things forward if needed.
A consortium rather than a foundation sounds pretty interesting and could possibly make better sense.
which is why im liking china taking over the volume of BTC making the yanks not the main hoarders. just need a few new clients developed from other countries that are as full as the QT client (include blockchain) but with other features (better UI)