去中心化自治組織的法律主體性思考——立法實踐、規則構建與中國應對

Thoughts on the Legal Personality of Decentralized Autonomous Organizations—Legislative Practices, Rule Construction, and China's Response

去中心化自治組織“DAO”具備顛覆現代組織架構的潛能，為保障參與者權益，需在反思DAO的本質結構、法律特徵與立法實踐基礎上明確其主體性。DAO由資本－敘事－技術三者及其關聯組成，在該結構下DAO的法律主體性呈現出與現實法律難以通約、參與者保護不足及權利義務分配不均的特徵。各國實踐中多將DAO視作有限責任公司，同時新形式亦在湧現。從DAO的本質結構出發，應將DAO認定為一種新型法人實體，並從DAO法人資格的獲取、DAO及其成員權利義務的分配，以及DAO及其成員的責任承擔等方面建立相應的規則。針對我國發展DAO所面臨的法律障礙，應進一步明確其法律主體性，利用數字人民幣來推動DAO的發展，並在試點城市中進行法律或政策的創新。

Decentralized Autonomous Organizations (DAOs) have the potential to revolutionize modern organizational structures. To safeguard the rights of participants, it is necessary to clarify the subjectivity of DAOs by reflecting on their intrinsic structure, legal characteristics, and legislative practices. DAOs are composed of a triad of capital, narrative, and technology, along with their interrelations. Under this structure, the legal subjectivity of DAOs exhibits characteristics that are difficult to reconcile with existing legal frameworks, inadequate protection for participants, and uneven distribution of rights and obligations. In practice, various countries often treat DAOs as limited liability companies, while new forms are also emerging. Starting from the essential structure of DAOs, they should be recognized as a new type of legal entity, and corresponding rules should be established regarding the acquisition of DAO legal personality, the allocation of rights and obligations of DAOs and their members, and the responsibility assumed by DAOs and their members. In response to the legal challenges faced by the development of DAOs in our country, it is necessary to further clarify their legal subjectivity, use digital RMB to promote the development of DAOs, and innovate legal or policy approaches in pilot cities.