While I understand the reason for having a banned list, I think that we should do away with it. Instead, we should simply regulate who has the jutsu, and who ia able to learn them, provided they can be learned. For instance, is it so difficult for a ninja to figure that if you channel lightning chakra to your hand, that you can create a cutting edge? Kakashi thought of it as a chunnin, but a jounin would easily be able to imagine the concept. I say instead of banning jutsu, we make them difficult to obtain, and hard to master. Like having to meet a ninja/letter rank, post count, time on site/using a character, and proper elements or specialty simply to qualify to learn the jutsu. Then after that, a training topic depending on the rank of the jutsu, such as a 4 page topic for an S rank jutsu.
