Hailey Welch, known as the 'Hawk Tuah' girl, has been cleared in the SEC's $HAWK investigation.
Situation Context
The $HAWK meme coin, created by Hailey Welch, faced a dramatic 95% drop, losing its value from $500 million to below $60 million in 20 minutes.
SEC's Decision
The SEC closed the investigation without charges or financial sanctions against Welch. Meme coins are not recognized as securities, influencing the decision.
The investigation is closed, and I will not face any charges or monetary sanctions.Hailey Welch
Experts' Opinion
Former SEC lawyer Marc Fagel and James Murphy, known as Metalawman, expressed that the SEC cannot regulate meme coins as they aren't classified as securities.
The SEC is focusing on its core responsibilities. If fraud was involved, it could be investigated by criminal prosecutors.James Murphy
While Hailey Welch avoided charges, discussions on regulation and investor protection continue.
