No, they didn't ban homosexuality. They banned advertising homosexuality to minors. And it has worked very well - you can't advertise homosexuality to minors there without running the risk of being arrested.

The same can happen to Bitcoin. While they won't be able to stop everyone from using it there (heck, they can't even close down their own dark market for illegal drugs), they are perfectly capable of reducing it to a niche market used only by criminals and without real importance.

Anyway, time will tell. Maybe Putin will wise up and open his country to the free initiative. (Fat chance.)