diff --git a/core/src/main/java/com/google/bitcoin/core/Peer.java b/core/src/main/java/com/google/bitcoin/core/Peer.java
index 9b24fafb..bcf95332 100644
--- a/core/src/main/java/com/google/bitcoin/core/Peer.java
+++ b/core/src/main/java/com/google/bitcoin/core/Peer.java
@@ -53,6 +53,7 @@ public class Peer {
     private final NetworkParameters params;
     private final AbstractBlockChain blockChain;
     private PeerAddress address;
+    // TODO: Make the types here explicit and remove synchronization on adders/removers.
     private List<PeerEventListener> eventListeners;
     private List<PeerLifecycleListener> lifecycleListeners;
     // Whether to try and download blocks and transactions from this peer. Set to false by PeerGroup if not the
@@ -69,6 +70,8 @@ public class Peer {
     // A class that tracks recent transactions that have been broadcast across the network, counts how many
     // peers announced them and updates the transaction confidence data. It is passed to each Peer.
     private MemoryPool memoryPool;
+    // Each wallet added to the peer will be notified of downloaded transaction data.
+    private CopyOnWriteArrayList<Wallet> wallets;
     // A time before which we only download block headers, after that point we download block bodies.
     private long fastCatchupTimeSecs;
     // Whether we are currently downloading headers only or block bodies. Starts at true. If the fast catchup time is
@@ -123,6 +126,7 @@ public class Peer {
         this.handler = new PeerHandler();
         this.pendingPings = new CopyOnWriteArrayList<PendingPing>();
         this.lastPingTimes = null;
+        this.wallets = new CopyOnWriteArrayList<Wallet>();
     }
 
     /**
@@ -413,9 +417,18 @@ public class Peer {
         }
         if (maybeHandleRequestedData(tx))
             return;
-        // Tell all listeners (like wallets) about this tx so they can decide whether to keep it or not. If no
-        // listener keeps a reference around then the memory pool will forget about it after a while too because
-        // it uses weak references.
+        // Tell all wallets about this tx so they can check if it's relevant or not.
+        for (ListIterator<Wallet> it = wallets.listIterator(); it.hasNext();) {
+            Wallet wallet = it.next();
+            try {
+                wallet.receivePending(tx);
+            } catch (VerificationException e) {
+                log.error("Wallet failed to verify tx", e);
+                // Carry on, listeners may still want to know.
+            }
+        }
+        // Tell all listeners about this tx so they can decide whether to keep it or not. If no listener keeps a
+        // reference around then the memory pool will forget about it after a while too because it uses weak references.
         final Transaction ftx = tx;
         EventListenerInvoker.invoke(eventListeners, new EventListenerInvoker<PeerEventListener>() {
             @Override
@@ -863,12 +876,12 @@ public class Peer {
      * independently, otherwise the wallet will receive duplicate notifications.
      */
     public void addWallet(Wallet wallet) {
-        addEventListener(wallet.getPeerEventListener());
+        wallets.add(wallet);
     }
 
     /** Unlinks the given wallet from peer. See {@link Peer#addWallet(Wallet)}. */
     public void removeWallet(Wallet wallet) {
-        removeEventListener(wallet.getPeerEventListener());
+        wallets.remove(wallet);
     }
 
     /**
diff --git a/core/src/main/java/com/google/bitcoin/core/PeerGroup.java b/core/src/main/java/com/google/bitcoin/core/PeerGroup.java
index 85ddd963..51e8d54b 100644
--- a/core/src/main/java/com/google/bitcoin/core/PeerGroup.java
+++ b/core/src/main/java/com/google/bitcoin/core/PeerGroup.java
@@ -542,7 +542,6 @@ public class PeerGroup extends AbstractIdleService {
     public synchronized void addWallet(Wallet wallet) {
         Preconditions.checkNotNull(wallet);
         wallets.add(wallet);
-        addEventListener(wallet.getPeerEventListener());
         announcePendingWalletTransactions(Collections.singletonList(wallet), peers);
 
         // Don't bother downloading block bodies before the oldest keys in all our wallets. Make sure we recalculate
@@ -609,7 +608,6 @@ public class PeerGroup extends AbstractIdleService {
         if (wallet == null)
             throw new IllegalArgumentException("wallet is null");
         wallets.remove(wallet);
-        removeEventListener(wallet.getPeerEventListener());
     }
 
     /**
@@ -854,13 +852,17 @@ public class PeerGroup extends AbstractIdleService {
         if (downloadPeer != null) {
             log.info("Unsetting download peer: {}", downloadPeer);
             downloadPeer.setDownloadData(false);
+            for (Wallet wallet : wallets)
+                downloadPeer.removeWallet(wallet);
         }
         downloadPeer = peer;
         if (downloadPeer != null) {
             log.info("Setting download peer: {}", downloadPeer);
             downloadPeer.setDownloadData(true);
-            if (chain != null)
-                downloadPeer.setDownloadParameters(fastCatchupTimeSecs, bloomFilter != null);
+            downloadPeer.setDownloadParameters(fastCatchupTimeSecs, bloomFilter != null);
+            // TODO: The peer should calculate the fast catchup time from the added wallets here.
+            for (Wallet wallet : wallets)
+                downloadPeer.addWallet(wallet);
         }
     }
 
diff --git a/core/src/main/java/com/google/bitcoin/core/Wallet.java b/core/src/main/java/com/google/bitcoin/core/Wallet.java
index 5b1bf688..9d6de798 100644
--- a/core/src/main/java/com/google/bitcoin/core/Wallet.java
+++ b/core/src/main/java/com/google/bitcoin/core/Wallet.java
@@ -2201,34 +2201,6 @@ public class Wallet implements Serializable, BlockChainListener {
         }
         return earliestTime;
     }
-    
-    // This object is used to receive events from a Peer or PeerGroup. Currently it is only used to receive
-    // transactions. Note that it does NOT pay attention to block message because they will be received from the
-    // BlockChain object along with extra data we need for correct handling of re-orgs.
-    private transient PeerEventListener peerEventListener;
-
-    /**
-     * The returned object can be used to connect the wallet to a {@link Peer} or {@link PeerGroup} in order to
-     * receive and process blocks and transactions.
-     */
-    synchronized PeerEventListener getPeerEventListener() {
-        if (peerEventListener == null) {
-            // Instantiate here to avoid issues with wallets resurrected from serialized copies.
-            peerEventListener = new AbstractPeerEventListener() {
-                @Override
-                public void onTransaction(Peer peer, Transaction t) {
-                    // Runs locked on a peer thread.
-                    try {
-                        receivePending(t);
-                    } catch (VerificationException e) {
-                        log.warn("Received broadcast transaction that does not validate: {}", t);
-                        log.warn("VerificationException caught", e);
-                    }
-                }
-            };
-        }
-        return peerEventListener;
-    }
 
     public Sha256Hash getLastBlockSeenHash() {
         return lastBlockSeenHash;