There won't be a ban, it will be licensed. Big companies like banks etc will get their licence right away, so your secure banking will be fine. Routers will still have wifi encryption because they'll have a licence.
The licence will be implemented as a fee for a digital certificate that properly authenticates.
So, you're a small startup with an idea for a secure messaging app. want a licence. no problem, its £10M. have you got the money handy?
So, now you can MITM anyone who doesn't carry out any nefarious communication, while anyone who do still happily encrypts their data, possibly with minimal steps taken to conceal what they're doing.
The licence will be implemented as a fee for a digital certificate that properly authenticates.
So, you're a small startup with an idea for a secure messaging app. want a licence. no problem, its £10M. have you got the money handy?