Well, for one, the government would actually have to make such a law, and then suffer the political consequences.
I would much prefer that the government is forced to actually follow the legal process, instead of what happened in 2010 with WikiLeaks, where the government made vague illegal threats against the banks, in order to censor transactions between people who broke zero laws.
It forces everything out in the open, instead of giving a couple banks the power to made hidden agreements between each other in order to collude and censor perfectly legal financial transactions.
And so far, the government has NOT made such a law. So guess what, that means it works!
This is not about people breaking the law. This is about people following the law, and yet private parties are STILL able to censor transactions through collusion and because of a few vague, and probably illegal, threats from the government.
The fact that the government has so far NOT been able to pass such laws, is innovation in and of itself. It means that it works right now for the purpose of making censorship resistant transactions, because before people WERE succeeding in censoring them, and yet now they aren't!