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Kenya is a terrible example of regulation supervision, says Emery Kobor, Deputy Director of Strategic Planning for the U.S. Treasury’s Office of Terrorist Financing and Financial Crimes. “Frankly we’re very concerned that M-Pesa has risen to the level of being a systemically important payment system in a country that doesn’t really have a regulatory framework and supervisory standards to ensure consistent access to financial services.” (From the ATM & Mobile Executive Summit.)