If a government keeps monopoly on money creation and all banking system is tightly regulated by the government but at the same time there is no cash in the econ

If a government keeps monopoly on money creation and all banking system is tightly regulated by the government but at the same time there is no cash in the economy, then government have ultimate power on everybody (since they can't burn cash in your pocket but they can freeze all your bank accounts anytime) and therefore your freedom at mercy of government bureaucrats. Hard cash (and now also cryptocurrencies) is only little freedom you (still) have.