Haliey Welch, Better Known as the “Hawk Tuah Girl,” Claims to Have Closed SEC Investigation

Haliey Welch, better known as the “Hawk Tuah girl,” has claimed the U.S. Securities and Exchange Commission (SEC) has closed its investigation

Haliey Welch, famously known as the “Hawk Tuah girl,” has claimed that the U.S. Securities and Exchange Commission (SEC) has closed its investigation into her and the HAWK meme coin without pursuing any further enforcement actions.

However, the SEC themselves have not yet commented or confirmed this claim.

The assertion follows the rapid rise of the HAWK token, which reportedly reached a $500 million market cap before crashing to below $60 million, leading to significant losses for many investors and sparking regulatory interest.

Welch made the announcement regarding the alleged probe closure in an interview with TMZ.

“For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete,” Welch told TMZ.

Why Is The Claimed Outcome Sparking Controversy?

Welch’s assertion that she faces no legal consequences concerning the HAWK token’s dramatic boom and bust has sparked controversy within the crypto community.

Many have questioned how Welch can walk away without any legal repercussions despite the financial losses faced by investors as a result of the token’s crash. Critics argue that this situation highlights a gap in regulatory oversight, especially when it comes to high-risk projects like meme coins.

Welch’s lawyer, James Sallah, added, “The SEC closed the investigation without making any findings against, or seeking any monetary sanctions from, Haliey. Because they did not bring any action against her, there are no restrictions on what she can do in regards to crypto or securities in the future.”

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Is SEC Jurisdiction Limited For Meme Coins?

According to a legal analyst, James Murphy, who is known online as "MetaLawMan," it wouldn’t necessarily be surprising if the SEC probe was closed without any action being taken.

He suggested that meme coins are usually not classified as securities, which falls outside of the SEC’s jurisdiction.

The agency is currently focusing on its core responsibilities, and if there was any fraud involved in the process, then criminal prosecutors or the state consumer protection agencies could investigate it further.

No surprise. Meme coins are generally not securities, so no jurisdiction at the SEC. SEC is staying in its lane these days. If there was fraud associated with the launch, criminal prosecutors or the state consumer protection agency could/should be looking into it.

For context, the SEC itself recently clarified that most meme coins don’t meet the criteria for investment contracts which the agency regulates, based on an established Supreme Court precedent.

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While Welch and her lawyer claim that the SEC matter has been concluded favorably for her, the absence of any official statement or comment from the agency leaves the final status of the case unclear.

As it stands, Welch is clear of any legal trouble, leaving the HAWK saga as yet another controversial chapter in the evolving landscape of cryptocurrency regulation.