diff --git a/newsfragments/2623.breaking-change.rst b/newsfragments/2623.breaking-change.rst
new file mode 100644
index 0000000000..b3b9f16bcd
--- /dev/null
+++ b/newsfragments/2623.breaking-change.rst
@@ -0,0 +1 @@
+Update eth-tester dependency to v0.7.0-beta.1; Update eth-account version to >=0.7.0,<0.8.0
diff --git a/setup.py b/setup.py
index 07e4da08d5..04b4f44560 100644
--- a/setup.py
+++ b/setup.py
@@ -6,7 +6,7 @@
 
 extras_require = {
     "tester": [
-        "eth-tester[py-evm]==v0.6.0-beta.5",
+        "eth-tester[py-evm]==v0.7.0-beta.1",
         "py-geth>=3.9.1,<4",
     ],
     "linter": [
@@ -77,7 +77,7 @@
     install_requires=[
         "aiohttp>=3.7.4.post0,<4",
         "eth-abi>=3.0.0,<4.0.0",
-        "eth-account>=0.6.0,<0.7.0",
+        "eth-account>=0.7.0,<0.8.0",
         "eth-hash[pycryptodome]>=0.2.0,<1.0.0",
         "eth-typing>=3.0.0,<4.0.0",
         "eth-utils>=2.0.0,<3.0.0",