In your novel Moonwar, you write about a similar problem when nanotech has become feasible, and is the subject of witch hunts. There are real fears about nanotech, and I share them. You could make some very nasty bugs that would be truly weapons of mass destruction. But I don't think banning it is the answer. But wait ten years.
Technology just keeps on going.
Banning is one of the first things people think of. I don't like it, so let's pass a law. But that won't stop it. The world doesn't work that way. In my novels, I use the Moon as a far away place to show that even when you ban it, technology can be developed elsewhere, where the law doesn't apply.