U.S. President Donald Trump's launch of a crypto token shortly before his inauguration on Monday creates new conflict-of-interest concerns, ethics experts and industry insiders said.

Awaiting Trump’s return to office, the cryptocurrency industry was thrilled by the president’s promises to provide clear-cut regulatory guidelines that would help the sector grow while easing the volatility it’s become notorious for.

The price of bitcoin has surged to over $109,000 just hours ahead of President-elect Donald Trump's inauguration, as a pumped up cryptocurrency industry expects early action by him soon after he takes office.