The mint/burn could potentially have tax concerns in certain countries, but should not have any implications with the SEC (I’m not a lawyer, not advice), since we are not changing the supply of any asset, we are just wrapping and unwrapping. It is not a burn in the normal “token supply burn” sense, it is really just wrapping/unwrapping, or lock/release if you prefer that.
Update: per the CTO of Ren:
our lawyers have given us the all clear that renTokens are not securities if the token itself (eg BTC) is not a security