diff --git a/src/lib.rs b/src/lib.rs
index 7465dfabf..4cd7ec4bb 100644
--- a/src/lib.rs
+++ b/src/lib.rs
@@ -274,6 +274,8 @@ impl Node {
 			self.config.network
 		);
 
+		self.runtime.allow_cancellable_background_task_spawns();
+
 		// Start up any runtime-dependant chain sources (e.g. Electrum)
 		self.chain_source.start(Arc::clone(&self.runtime)).map_err(|e| {
 			log_error!(self.logger, "Failed to start chain syncing: {}", e);
diff --git a/src/runtime.rs b/src/runtime.rs
index 9673d0eb7..3f82d704e 100644
--- a/src/runtime.rs
+++ b/src/runtime.rs
@@ -22,11 +22,22 @@ use crate::logger::{log_debug, log_error, log_trace, LdkLogger, Logger};
 pub(crate) struct Runtime {
 	mode: RuntimeMode,
 	background_tasks: Mutex<JoinSet<()>>,
-	cancellable_background_tasks: Mutex<JoinSet<()>>,
+	cancellable_background_tasks: Mutex<CancellableBackgroundTasks>,
 	background_processor_task: Mutex<Option<JoinHandle<()>>>,
 	logger: Arc<Logger>,
 }
 
+struct CancellableBackgroundTasks {
+	tasks: JoinSet<()>,
+	accepting_tasks: bool,
+}
+
+impl CancellableBackgroundTasks {
+	fn new() -> Self {
+		Self { tasks: JoinSet::new(), accepting_tasks: true }
+	}
+}
+
 impl Runtime {
 	pub fn new(logger: Arc<Logger>) -> Result<Self, std::io::Error> {
 		let mode = match tokio::runtime::Handle::try_current() {
@@ -55,7 +66,7 @@ impl Runtime {
 			},
 		};
 		let background_tasks = Mutex::new(JoinSet::new());
-		let cancellable_background_tasks = Mutex::new(JoinSet::new());
+		let cancellable_background_tasks = Mutex::new(CancellableBackgroundTasks::new());
 		let background_processor_task = Mutex::new(None);
 
 		Ok(Self {
@@ -70,7 +81,7 @@ impl Runtime {
 	pub fn with_handle(handle: tokio::runtime::Handle, logger: Arc<Logger>) -> Self {
 		let mode = RuntimeMode::Handle(handle);
 		let background_tasks = Mutex::new(JoinSet::new());
-		let cancellable_background_tasks = Mutex::new(JoinSet::new());
+		let cancellable_background_tasks = Mutex::new(CancellableBackgroundTasks::new());
 		let background_processor_task = Mutex::new(None);
 
 		Self {
@@ -100,11 +111,22 @@ impl Runtime {
 	{
 		let mut cancellable_background_tasks =
 			self.cancellable_background_tasks.lock().expect("lock");
+		if !cancellable_background_tasks.accepting_tasks {
+			log_trace!(
+				self.logger,
+				"Ignoring cancellable background task spawned during shutdown."
+			);
+			return;
+		}
 		let runtime_handle = self.handle();
 		// Since it seems to make a difference to `tokio` (see
 		// https://docs.rs/tokio/latest/tokio/time/fn.timeout.html#panics) we make sure the futures
 		// are always put in an `async` / `.await` closure.
-		cancellable_background_tasks.spawn_on(async { future.await }, runtime_handle);
+		cancellable_background_tasks.tasks.spawn_on(async { future.await }, runtime_handle);
+	}
+
+	pub fn allow_cancellable_background_task_spawns(&self) {
+		self.cancellable_background_tasks.lock().expect("lock").accepting_tasks = true;
 	}
 
 	pub fn spawn_background_processor_task<F>(&self, future: F)
@@ -142,8 +164,12 @@ impl Runtime {
 	}
 
 	pub fn abort_cancellable_background_tasks(&self) {
-		let mut tasks =
-			core::mem::take(&mut *self.cancellable_background_tasks.lock().expect("lock"));
+		let mut tasks = {
+			let mut cancellable_background_tasks =
+				self.cancellable_background_tasks.lock().expect("lock");
+			cancellable_background_tasks.accepting_tasks = false;
+			core::mem::take(&mut cancellable_background_tasks.tasks)
+		};
 		debug_assert!(tasks.len() > 0, "Expected some cancellable background_tasks");
 		tasks.abort_all();
 		self.block_on(async { while let Some(_) = tasks.join_next().await {} })
@@ -352,3 +378,56 @@ impl FutureSpawner for RuntimeSpawner {
 		output
 	}
 }
+
+#[cfg(test)]
+mod tests {
+	use super::*;
+
+	use tokio::sync::oneshot;
+
+	fn test_runtime() -> Runtime {
+		Runtime::new(Arc::new(Logger::new_log_facade())).unwrap()
+	}
+
+	#[test]
+	fn late_cancellable_spawns_are_not_polled_after_abort() {
+		let runtime = test_runtime();
+		let (started_sender, started_receiver) = oneshot::channel();
+		runtime.spawn_cancellable_background_task(async move {
+			let _ = started_sender.send(());
+			std::future::pending::<()>().await;
+		});
+		runtime.block_on(async {
+			started_receiver.await.expect("initial task should start");
+		});
+
+		runtime.abort_cancellable_background_tasks();
+
+		let (late_spawn_sender, late_spawn_receiver) = oneshot::channel();
+		runtime.spawn_cancellable_background_task(async move {
+			let _ = late_spawn_sender.send(());
+		});
+		let late_spawn_was_polled = runtime.block_on(async {
+			match tokio::time::timeout(Duration::from_secs(1), late_spawn_receiver).await {
+				Ok(Ok(())) => true,
+				Ok(Err(_)) | Err(_) => false,
+			}
+		});
+
+		assert!(
+			!late_spawn_was_polled,
+			"cancellable task spawned after shutdown started should not be polled"
+		);
+
+		runtime.allow_cancellable_background_task_spawns();
+
+		let (restarted_sender, restarted_receiver) = oneshot::channel();
+		runtime.spawn_cancellable_background_task(async move {
+			let _ = restarted_sender.send(());
+		});
+		runtime.block_on(async {
+			restarted_receiver.await.expect("spawn should be allowed after restart");
+		});
+		runtime.abort_cancellable_background_tasks();
+	}
+}