diff --git a/configure.ac b/configure.ac
index 3eca0a24d..b61acf468 100644
--- a/configure.ac
+++ b/configure.ac
@@ -554,33 +554,14 @@ fi
 if test x$use_boost = xyes; then
 
 dnl Check for boost libs
-AX_BOOST_BASE
+dnl We need Boost >= 1.62 to fix a potential security bug (https://github.com/zcash/zcash/issues/1241)
+AX_BOOST_BASE([1.62])
 AX_BOOST_SYSTEM
 AX_BOOST_FILESYSTEM
 AX_BOOST_PROGRAM_OPTIONS
 AX_BOOST_THREAD
 AX_BOOST_CHRONO
 
-
-if test x$use_reduce_exports = xyes; then
-  AC_MSG_CHECKING([for working boost reduced exports])
-  TEMP_CPPFLAGS="$CPPFLAGS"
-  CPPFLAGS="$BOOST_CPPFLAGS $CPPFLAGS"
-  AC_PREPROC_IFELSE([AC_LANG_PROGRAM([[
-      @%:@include <boost/version.hpp>
-    ]], [[
-      #if BOOST_VERSION >= 104900
-      // Everything is okay
-      #else
-      #  error Boost version is too old
-      #endif
-    ]])],[
-      AC_MSG_RESULT(yes)
-    ],[
-    AC_MSG_ERROR([boost versions < 1.49 are known to be broken with reduced exports. Use --disable-reduce-exports.])
-  ])
-  CPPFLAGS="$TEMP_CPPFLAGS"
-fi
 fi
 
 if test x$use_reduce_exports = xyes; then
@@ -621,60 +602,7 @@ if test x$use_tests = xyes; then
 fi
 
 if test x$use_boost = xyes; then
-
 BOOST_LIBS="$BOOST_LDFLAGS $BOOST_SYSTEM_LIB $BOOST_FILESYSTEM_LIB $BOOST_PROGRAM_OPTIONS_LIB $BOOST_THREAD_LIB $BOOST_CHRONO_LIB"
-
-dnl Boost >= 1.50 uses sleep_for rather than the now-deprecated sleep, however
-dnl it was broken from 1.50 to 1.52 when backed by nanosleep. Use sleep_for if
-dnl a working version is available, else fall back to sleep. sleep was removed
-dnl after 1.56.
-dnl If neither is available, abort.
-TEMP_LIBS="$LIBS"
-LIBS="$BOOST_LIBS $LIBS"
-TEMP_CPPFLAGS="$CPPFLAGS"
-CPPFLAGS="$CPPFLAGS $BOOST_CPPFLAGS"
-AC_LINK_IFELSE([AC_LANG_PROGRAM([[
-  #include <boost/thread/thread.hpp>
-  #include <boost/version.hpp>
-  ]],[[
-  #if BOOST_VERSION >= 105000 && (!defined(BOOST_HAS_NANOSLEEP) || BOOST_VERSION >= 105200)
-      boost::this_thread::sleep_for(boost::chrono::milliseconds(0));
-  #else
-   choke me
-  #endif
-  ]])],
-  [boost_sleep=yes;
-     AC_DEFINE(HAVE_WORKING_BOOST_SLEEP_FOR, 1, [Define this symbol if boost sleep_for works])],
-  [boost_sleep=no])
-LIBS="$TEMP_LIBS"
-CPPFLAGS="$TEMP_CPPFLAGS"
-
-if test x$boost_sleep != xyes; then
-TEMP_LIBS="$LIBS"
-LIBS="$BOOST_LIBS $LIBS"
-TEMP_CPPFLAGS="$CPPFLAGS"
-CPPFLAGS="$CPPFLAGS $BOOST_CPPFLAGS"
-AC_LINK_IFELSE([AC_LANG_PROGRAM([[
-  #include <boost/version.hpp>
-  #include <boost/thread.hpp>
-  #include <boost/date_time/posix_time/posix_time_types.hpp>
-  ]],[[
-  #if BOOST_VERSION <= 105600
-      boost::this_thread::sleep(boost::posix_time::milliseconds(0));
-  #else
-   choke me
-  #endif
-  ]])],
-  [boost_sleep=yes; AC_DEFINE(HAVE_WORKING_BOOST_SLEEP, 1, [Define this symbol if boost sleep works])],
-  [boost_sleep=no])
-LIBS="$TEMP_LIBS"
-CPPFLAGS="$TEMP_CPPFLAGS"
-fi
-
-if test x$boost_sleep != xyes; then
-  AC_MSG_ERROR(No working boost sleep implementation found.)
-fi
-
 fi
 
 if test x$use_pkgconfig = xyes; then
diff --git a/src/test/scheduler_tests.cpp b/src/test/scheduler_tests.cpp
index cb1a427db..d6c93ef3b 100644
--- a/src/test/scheduler_tests.cpp
+++ b/src/test/scheduler_tests.cpp
@@ -30,14 +30,7 @@ static void microTask(CScheduler& s, boost::mutex& mutex, int& counter, int delt
 
 static void MicroSleep(uint64_t n)
 {
-#if defined(HAVE_WORKING_BOOST_SLEEP_FOR)
     boost::this_thread::sleep_for(boost::chrono::microseconds(n));
-#elif defined(HAVE_WORKING_BOOST_SLEEP)
-    boost::this_thread::sleep(boost::posix_time::microseconds(n));
-#else
-    //should never get here
-    #error missing boost sleep implementation
-#endif
 }
 
 BOOST_AUTO_TEST_CASE(manythreads)
diff --git a/src/utiltime.cpp b/src/utiltime.cpp
index a7cdeb114..f1a408a31 100644
--- a/src/utiltime.cpp
+++ b/src/utiltime.cpp
@@ -43,20 +43,7 @@ int64_t GetTimeMicros()
 
 void MilliSleep(int64_t n)
 {
-
-/**
- * Boost's sleep_for was uninterruptable when backed by nanosleep from 1.50
- * until fixed in 1.52. Use the deprecated sleep method for the broken case.
- * See: https://svn.boost.org/trac/boost/ticket/7238
- */
-#if defined(HAVE_WORKING_BOOST_SLEEP_FOR)
     boost::this_thread::sleep_for(boost::chrono::milliseconds(n));
-#elif defined(HAVE_WORKING_BOOST_SLEEP)
-    boost::this_thread::sleep(boost::posix_time::milliseconds(n));
-#else
-//should never get here
-#error missing boost sleep implementation
-#endif
 }
 
 std::string DateTimeStrFormat(const char* pszFormat, int64_t nTime)