If governments could effectively stop a peer to peer network, they wouldve shut down the illegal practices of torrent websites over a decade ago. Trying to ban bitcoin or regulate it in a manner that allows actual oversight would be much the same. Its impossible on a technical level.
Even tracking individual people who own specific wallets is difficult. While the public blockchain might allow governments or law enforcement to track down certain bitcoins, tying them to a real-world person is very difficult. An owner can hide his or her identity with a VPN, Tor, or even physically move a wallet into cold storage (offline) form, making it invisible to the world.