That makes sense, but is also a nightmare IMO. The lack of oversight of money means that you cannot be totally barred from participating in the economic system by the goverement.
If the government had even more control over money, they could arbitrarily blacklist people from having access to currency. While this sounds like a good tool to use against criminals, recall that, in America at least, there exist things such as the no fly list [0], which impacts people's rights without due process.
The way governments actually work in practice these days, yes, it would be a nightmare.
But the problem with the relationship between money and government is so significant, a real solution would require dramatic changes all around. So that would mean that government could not be anything like it is today.
If the government had even more control over money, they could arbitrarily blacklist people from having access to currency. While this sounds like a good tool to use against criminals, recall that, in America at least, there exist things such as the no fly list [0], which impacts people's rights without due process.
[0]: https://en.wikipedia.org/wiki/No_Fly_List