The Bank of Korea (BOK) has acknowledged the potential of stablecoins as a payment method, but stresses the need for caution regarding financial stability. Their recent 'Financial Stability Report' highlights key risks. The BOK points to the possibility of "coin runs," mirroring traditional bank runs, where users rapidly withdraw assets. It also raises concerns about the vulnerability of stablecoin payment and operating systems to various risks. The report suggests a phased approach, advocating for banks with established financial infrastructure to initially introduce stablecoins. This would allow for a more controlled and regulated environment. The BOK emphasizes the importance of regulations that balance innovation with risk mitigation, stating that policies should "minimize potential risks in terms of macro-prudential policy and monetary policy while not hindering various innovations based on stablecoins." The central bank's stance reflects a desire to harness the benefits of stablecoins while safeguarding the financial system. ```