diff --git a/setup.py b/setup.py
index 5e1ad0879..f54cb8f3e 100644
--- a/setup.py
+++ b/setup.py
@@ -32,7 +32,7 @@ setup(
         'envparse',
         'jsonrpc',
         'cryptography',
-        'protobuf==3.6.1',
+        'protobuf==3.2.0',
         'jsonschema',
         'ecdsa',
         'torba',