diff --git a/matrix_sdk_base/Cargo.toml b/matrix_sdk_base/Cargo.toml
index 5c8066a5..12fe7108 100644
--- a/matrix_sdk_base/Cargo.toml
+++ b/matrix_sdk_base/Cargo.toml
@@ -32,7 +32,7 @@ serde_json = "1.0.64"
 tracing = "0.1.26"
 
 matrix-sdk-common = { version = "0.4.0", path = "../matrix_sdk_common" }
-matrix-sdk-crypto = { version = "0.3.0", path = "../matrix_sdk_crypto", optional = true }
+matrix-sdk-crypto = { version = "0.4.0", path = "../matrix_sdk_crypto", optional = true }
 
 # Misc dependencies
 thiserror = "1.0.25"
diff --git a/matrix_sdk_crypto/Cargo.toml b/matrix_sdk_crypto/Cargo.toml
index 2ae7add5..bde011b5 100644
--- a/matrix_sdk_crypto/Cargo.toml
+++ b/matrix_sdk_crypto/Cargo.toml
@@ -8,7 +8,7 @@ license = "Apache-2.0"
 name = "matrix-sdk-crypto"
 readme = "README.md"
 repository = "https://github.com/matrix-org/matrix-rust-sdk"
-version = "0.3.0"
+version = "0.4.0"
 
 [package.metadata.docs.rs]
 features = ["docs"]