You can ban alcohol, cannabis, gold, eggs and open source code including Monero. Many attempts has been made on this throughout history.
The countries that allow Monero (outside G7) will get a huge influx of wealth transfer. Let's say Paraguay or Kenya do not enforce a monero ban on swapping or commercial activity.
You could limit the use in legitimate commerce in G7. But, I think it will hurt the G7 harder than Monero. There may be a few traders left on the CEX that will run away. But, I will continue to find ways to use xmr outside the G7 and the dark web will continue.
It could as easily get more attractive to opt in to Monero. EU have "banned" Monero, even normie's in EU are now curious about Monero.
