A group of criminals who were using Bitcoin to hide their shady deals were caught and OP is starting a topic on hodling Bitcoin legally. We should praise these law enforcement agencies for tracking and uncovering these criminal activities. These sets of persons give the Bitcoin space a bad reputation because of these criminal activities. I read that Jian Wen was living a luxurious life with the proceeds of crime which led to suspicion.
It has been an issue always that countries are trying to put the marks of illegal on people who are earning good with crypto. Actually these super power colonies don't want a free nation. They just want that people should remain under their influence and give them heavy taxes.
Whoever will try to do something for freedom they will try to impose resistance to it and that's very natural now but we should fight for our right.
Some governments are indeed anti-crypto, so they are doing everything possible to give the industry a bad name. News like this are usually overblown to gain more publicity. But in this case that OP mentioned it was proved that it was a proceed from crime. Some persons were duped in China Jian Wen helped the masterminders to launder the criminal proceeds.