Absolutely. You are essentially creating a single point of failure for your entire life, and a poorly secured one at that. It might appeal to the masses who think it's "cool", but anyone with half a brain will stay well away. You can guarantee the government will want some kind of handy little backdoor or tracking software installed on them to.
I wonder, do you think that this chip implant may work on fiat but perhaps not cryptos since the value is higher than fiat money?
So if that chip implant will be applied to cryptocurrency for receiving or sending an altcoin, then your body will mostly be targeted by hackers or will be prone in danger since that chip already gave your private key in public.
Nope it won't be for criminals you are just a walking pile of money waiting to be kidnap and be chopped into pieces by them. By doing so you actually are putting yourself at risk as you will be a vulnerable target for them as they know exactly who you are and of course what you are carrying.
I kind of agree with what both of you said. This chip implant could just well be a disaster waiting to happen, but if the microchip implant is, well, tiny that it may not be visible to people unless you will look closely into a person's hand, then maybe there is less to fear?