diff --git a/.github/workflows/cont_integration.yml b/.github/workflows/cont_integration.yml
index 920c8f48..71fe728a 100644
--- a/.github/workflows/cont_integration.yml
+++ b/.github/workflows/cont_integration.yml
@@ -11,7 +11,7 @@ jobs:
       matrix:
         rust:
           - 1.50.0 # STABLE
-          - 1.45.0 # MSRV
+          - 1.46.0 # MSRV
         features:
           - default
           - minimal
diff --git a/CHANGELOG.md b/CHANGELOG.md
index d8e451eb..341ca2e2 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,6 +6,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+### Misc
+#### Changed
+- New minimum supported rust version is 1.46.0
+
 ### Descriptor
 #### Added
 - Added ability to analyze a `PSBT` to check which and how many signatures are already available
diff --git a/CONTRIBUTING.md b/CONTRIBUTING.md
index 9ec5c8ad..08fd19c4 100644
--- a/CONTRIBUTING.md
+++ b/CONTRIBUTING.md
@@ -46,7 +46,7 @@ Every new feature should be covered by functional tests where possible.
 When refactoring, structure your PR to make it easy to review and don't
 hesitate to split it into multiple small, focused PRs.
 
-The Minimal Supported Rust Version is 1.45 (enforced by our CI).
+The Minimal Supported Rust Version is 1.46 (enforced by our CI).
 
 Commits should cover both the issue fixed and the solution's rationale.
 These [guidelines](https://chris.beams.io/posts/git-commit/) should be kept in mind.
diff --git a/Cargo.toml b/Cargo.toml
index 3e76bace..9f5b5bed 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -35,8 +35,6 @@ tiny-bip39 = { version = "^0.8", optional = true }
 # Platform-specific dependencies
 [target.'cfg(not(target_arch = "wasm32"))'.dependencies]
 tokio = { version = "1", features = ["rt"] }
-# pin hyper version to prevent update to socket2 0.4.0 which isn't supported for MSRV 1.45.0
-hyper = { version = "=0.14.4" }
 
 [target.'cfg(target_arch = "wasm32")'.dependencies]
 async-trait = "0.1"
diff --git a/README.md b/README.md
index 69e0fe47..4e21b355 100644
--- a/README.md
+++ b/README.md
@@ -13,7 +13,7 @@
     <a href="https://github.com/bitcoindevkit/bdk/actions?query=workflow%3ACI"><img alt="CI Status" src="https://github.com/bitcoindevkit/bdk/workflows/CI/badge.svg"></a>
     <a href="https://codecov.io/gh/bitcoindevkit/bdk"><img src="https://codecov.io/gh/bitcoindevkit/bdk/branch/master/graph/badge.svg"/></a>
     <a href="https://docs.rs/bdk"><img alt="API Docs" src="https://img.shields.io/badge/docs.rs-bdk-green"/></a>
-    <a href="https://blog.rust-lang.org/2020/07/16/Rust-1.45.0.html"><img alt="Rustc Version 1.45+" src="https://img.shields.io/badge/rustc-1.45%2B-lightgrey.svg"/></a>
+    <a href="https://blog.rust-lang.org/2020/08/27/Rust-1.46.0.html"><img alt="Rustc Version 1.46+" src="https://img.shields.io/badge/rustc-1.46%2B-lightgrey.svg"/></a>
     <a href="https://discord.gg/d7NkDKm"><img alt="Chat on Discord" src="https://img.shields.io/discord/753336465005608961?logo=discord"></a>
   </p>
 
diff --git a/scripts/cargo-check.sh b/scripts/cargo-check.sh
index 01b94411..86508866 100755
--- a/scripts/cargo-check.sh
+++ b/scripts/cargo-check.sh
@@ -3,7 +3,7 @@
 # Run various invocations of cargo check
 
 features=( "default" "compiler" "electrum" "esplora" "compact_filters" "key-value-db" "async-interface" "all-keys" "keys-bip39" )
-toolchains=( "+stable" "+1.45" "+nightly" )
+toolchains=( "+stable" "+1.46" "+nightly" )
 
 main() {
     check_src