diff --git a/pallets/pallet-bonded-coins/src/lib.rs b/pallets/pallet-bonded-coins/src/lib.rs
index e8ae6641f..5dc595c01 100644
--- a/pallets/pallet-bonded-coins/src/lib.rs
+++ b/pallets/pallet-bonded-coins/src/lib.rs
@@ -557,7 +557,8 @@ pub mod pallet {
 		/// - `origin`: The origin of the call, requiring the caller to be a
 		///   manager of the pool.
 		/// - `pool_id`: The identifier of the pool to be locked.
-		/// - `lock`: The locks to be applied to the pool.
+		/// - `lock`: The locks to be applied to the pool. At least one lock
+		///   flag must be set to `false` for a valid lock.
 		///
 		/// # Returns
 		/// - `DispatchResult`: The result of the dispatch.
@@ -568,11 +569,16 @@ pub mod pallet {
 		///   pool.
 		/// - `Error::<T>::PoolNotLive`: If the pool is not in a live (locked or
 		///   active) state.
+		/// - `Error::<T>::InvalidInput`: If all lock flags are `true` (all
+		///   operations enabled), which would be equivalent to an unlocked
+		///   (active) pool state.
 		#[pallet::call_index(3)]
 		#[pallet::weight(T::WeightInfo::set_lock())]
 		pub fn set_lock(origin: OriginFor<T>, pool_id: T::PoolId, lock: Locks) -> DispatchResult {
 			let who = T::DefaultOrigin::ensure_origin(origin)?;
 
+			ensure!(lock.any_lock_set(), Error::<T>::InvalidInput);
+
 			Pools::<T>::try_mutate(&pool_id, |pool| -> DispatchResult {
 				let entry = pool.as_mut().ok_or(Error::<T>::PoolUnknown)?;
 				ensure!(entry.state.is_live(), Error::<T>::PoolNotLive);
diff --git a/pallets/pallet-bonded-coins/src/tests/transactions/set_lock.rs b/pallets/pallet-bonded-coins/src/tests/transactions/set_lock.rs
index c3c6b4058..3e2f14748 100644
--- a/pallets/pallet-bonded-coins/src/tests/transactions/set_lock.rs
+++ b/pallets/pallet-bonded-coins/src/tests/transactions/set_lock.rs
@@ -116,6 +116,45 @@ fn set_lock_works_when_locked() {
 		});
 }
 
+#[test]
+fn set_lock_requires_at_least_one_flag_set() {
+	let pool_details = generate_pool_details(
+		vec![DEFAULT_BONDED_CURRENCY_ID],
+		get_linear_bonding_curve(),
+		true,
+		Some(PoolStatus::Active),
+		Some(ACCOUNT_00),
+		Some(DEFAULT_COLLATERAL_CURRENCY_ID),
+		Some(ACCOUNT_00),
+		None,
+	);
+	let pool_id: AccountIdOf<Test> = calculate_pool_id(&[DEFAULT_BONDED_CURRENCY_ID]);
+
+	ExtBuilder::default()
+		.with_pools(vec![(pool_id.clone(), pool_details)])
+		.with_native_balances(vec![(ACCOUNT_00, ONE_HUNDRED_KILT)])
+		.with_collaterals(vec![DEFAULT_COLLATERAL_CURRENCY_ID])
+		.with_bonded_balance(vec![
+			(DEFAULT_COLLATERAL_CURRENCY_ID, pool_id.clone(), u128::MAX / 10),
+			(DEFAULT_BONDED_CURRENCY_ID, ACCOUNT_00, u128::MAX / 10),
+		])
+		.build_and_execute_with_sanity_tests(|| {
+			let origin = RawOrigin::Signed(ACCOUNT_00).into();
+
+			assert_err!(
+				BondingPallet::set_lock(
+					origin,
+					pool_id.clone(),
+					Locks {
+						allow_burn: true,
+						allow_mint: true
+					}
+				),
+				Error::<Test>::InvalidInput
+			);
+		});
+}
+
 #[test]
 fn set_lock_fails_when_not_authorized() {
 	let pool_details = generate_pool_details(
diff --git a/pallets/pallet-bonded-coins/src/types.rs b/pallets/pallet-bonded-coins/src/types.rs
index 00c223e03..12fe093e3 100644
--- a/pallets/pallet-bonded-coins/src/types.rs
+++ b/pallets/pallet-bonded-coins/src/types.rs
@@ -25,6 +25,12 @@ pub struct Locks {
 	pub allow_burn: bool,
 }
 
+impl Locks {
+	pub const fn any_lock_set(&self) -> bool {
+		!(self.allow_mint && self.allow_burn)
+	}
+}
+
 /// Status of a pool.
 #[derive(Clone, Encode, Decode, PartialEq, Eq, TypeInfo, MaxEncodedLen, Debug)]
 pub enum PoolStatus<LockType> {