diff --git a/.github/workflows/rust.yml b/.github/workflows/rust.yml
index 503e7c1..23f8aa7 100644
--- a/.github/workflows/rust.yml
+++ b/.github/workflows/rust.yml
@@ -74,7 +74,7 @@ jobs:
       - name: "Install MSRV toolchain"
         uses: dtolnay/rust-toolchain@stable
         with:
-          toolchain: "1.63.0"
+          toolchain: "1.74.0"
       - name: "Run tests"
         run: rbmt test msrv --lock-file ${{ matrix.dep }}
 
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 50d24c9..3b42997 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,7 @@
+# Unreleased
+
+- Bump MSRV to Rust `v1.74.0`.
+
 # 0.2.0 - 2024-08-22
 
 - Bump MSRV to Rust `v1.63.0` [#27](https://github.com/tcharding/rust-psbt/pull/27)
diff --git a/Cargo.toml b/Cargo.toml
index f37b3de..d2a9ab9 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -9,7 +9,7 @@ categories = ["cryptography::cryptocurrencies"]
 keywords = [ "psbt", "bip-174", "bip174", "bip-370", "bip370"]
 readme = "README.md"
 edition = "2021"
-rust-version = "1.63.0"
+rust-version = "1.74.0"
 exclude = ["tests", "contrib"]
 
 [package.metadata.docs.rs]
diff --git a/README.md b/README.md
index f08e144..cacb5ed 100644
--- a/README.md
+++ b/README.md
@@ -10,7 +10,7 @@ For now we more or less just follow the contribution guidelines of
 
 ### Minimum Supported Rust Version (MSRV)
 
-This library should always compile with any combination of features on **Rust 1.63.0**.
+This library should always compile with any combination of features on **Rust 1.74.0**.
 
 To build with the MSRV you will likely need to pin a bunch of dependencies, see `./contrib/test.sh`
 for the current list.
diff --git a/clippy.toml b/clippy.toml
deleted file mode 100644
index b3c3a24..0000000
--- a/clippy.toml
+++ /dev/null
@@ -1 +0,0 @@
-msrv = "1.63.0"