Bad idea. The radiocommunication satellites are also regulated by ITU: http://www.itu.int/en/about/Pages/whatwedo.aspx . (You don't want two satellites too close using a too similar band for the transmission, so someone has to do the bookkeeping and the dispute resolution. Internet is a totally different problem.)
Isn't the proximity problem only a real issue for geostationary satellites? But in general I agree it's not the best idea; besides a bunch of technical problems it could always get shot down (even if unlikely)... A more realistic scenario would probably be connecting wireless mesh networks and ethernet cable networks (and sometimes fiber cables).
Plan a) Use an anti-satellite missile to destroy your satellite.
Plan b) Use a standard missile to destroy your ground station.
I think that the anti-satellite weapons were tested only against decoys. I don't remember a case were there was a rogue satellite and someone destroy it or the owners, but it's very difficult to argue with missile owners.
