Legal Personhood of DAOs under Macau Law: Analogical Application of Article 174 of the Commercial Code

Abstract

This paper examines the legal status of Decentralized Autonomous Organizations (DAOs) within Macau's legal framework, with particular emphasis on the potential analogical application of Article 174 of the Commercial Code. Despite the absence of specific provisions addressing these novel blockchain-based entities, this research demonstrates that Macau's existing legal infrastructure possesses sufficient flexibility to accommodate DAOs through interpretive mechanisms. By analyzing the theoretical foundations of legal personhood, the distinctive characteristics of DAOs, and the underlying principles of Macau's commercial law system, this study proposes a viable pathway for recognizing DAOs as legitimate legal entities. The research reveals that while Article 174 was not originally conceived to address blockchain-based organizations, its purposive interpretation and analogical application could provide a provisional legal foundation for DAOs, pending more specific legislative developments. This approach not only addresses immediate practical concerns regarding the legal status of DAOs but also contributes to the broader discourse on legal adaptation to technological innovation in the commercial sphere.