Yes, but only if the government has backdoor access in order to freeze the funds of criminals (with such action requiring a warrant)

Informed Self Hosted Digital Wallets

Backdoor access for the government sounds good in theory, but it opens the door to abuse and overreach. Look at the Snowden revelations; government agencies have been known to overstep boundaries when given a little too much power. Would you really trust any government to wield such access responsibly and without error?