diff --git a/.github/workflows/docs.yml b/.github/workflows/docs.yml
index 50a40ef10a..24711cd17e 100644
--- a/.github/workflows/docs.yml
+++ b/.github/workflows/docs.yml
@@ -14,13 +14,10 @@ jobs:
       - name: Checkout repository
         uses: actions/checkout@v1
 
-      - uses: actions-rs/toolchain@v1
-        with:
-          target: wasm32-unknown-unknown
-          # Toolchain is autodetected from `rust-toolchain` file
-          # https://github.com/actions-rs/toolchain#the-toolchain-file
-          #toolchain: ${{ env.WASM_BUILD_TOOLCHAIN }}
-          default: true
+      # With rustup's nice new toml format, we just need to run rustup show to install the toolchain
+      # https://github.com/actions-rs/toolchain/issues/126#issuecomment-782989659
+      - name: Setup Rust toolchain
+        run: rustup show
 
       - uses: actions/cache@v2
         with:
diff --git a/.github/workflows/release.yml b/.github/workflows/release.yml
index 55d5d4cdb7..04721e19f2 100644
--- a/.github/workflows/release.yml
+++ b/.github/workflows/release.yml
@@ -127,13 +127,12 @@ jobs:
         with:
           path: ${{ runner.tool_cache }}/cargo-sccache
           key: ${{ runner.OS }}-sccache-bin-${{ env.CARGO_SCCACHE_VERSION }}-v1
-      - uses: actions-rs/toolchain@v1
-        with:
-          target: wasm32-unknown-unknown
-          # Toolchain is autodetected from `rust-toolchain` file
-          # https://github.com/actions-rs/toolchain#the-toolchain-file
-          #toolchain: ${{ env.WASM_BUILD_TOOLCHAIN }}
-          default: true
+
+      # With rustup's nice new toml format, we just need to run rustup show to install the toolchain
+      # https://github.com/actions-rs/toolchain/issues/126#issuecomment-782989659
+      - name: Setup Rust toolchain
+        run: rustup show
+
       - name: Install sccache
         run: |
           if [ ! -f ${{ runner.tool_cache }}/cargo-sccache/bin/sccache ]; then
diff --git a/README.md b/README.md
index be5e0eb732..85a60787d2 100644
--- a/README.md
+++ b/README.md
@@ -93,9 +93,6 @@ need a refresher setting up your Substrate environment, see [Substrate's Getting
 git clone https://github.com/PureStake/moonbeam
 cd moonbeam
 
-# Optional: Ensure you have the exact nightly toolchain used by Moonbeam's CI
-./scripts/init.sh
-
 # Build the node (The first build will be long (~30min))
 cargo build --release
 ```
diff --git a/docker/polkadot-relay.Dockerfile b/docker/polkadot-relay.Dockerfile
index 06f5d0c741..20a0930be8 100644
--- a/docker/polkadot-relay.Dockerfile
+++ b/docker/polkadot-relay.Dockerfile
@@ -27,7 +27,6 @@ RUN sed -i '/sc_executor::WasmExecutionMethod::Interpreted/c\\t\tsc_executor::Wa
 # Download rust dependencies and build the rust binary
 RUN curl https://sh.rustup.rs -sSf | sh -s -- -y && \
 	export PATH=$PATH:$HOME/.cargo/bin && \
-	scripts/init.sh && \
 	cargo build --$PROFILE --features=real-overseer
 
 # ===== SECOND STAGE ======
diff --git a/rust-toolchain b/rust-toolchain
index 8895ad9465..726f81ab67 100644
--- a/rust-toolchain
+++ b/rust-toolchain
@@ -1 +1,5 @@
-nightly-2021-01-13
+[toolchain]
+channel = "nightly-2021-01-13"
+components = [ "rustfmt", "clippy" ]
+targets = [ "wasm32-unknown-unknown" ]
+profile = "minimal"
diff --git a/scripts/init.sh b/scripts/init.sh
deleted file mode 100755
index 791232afd9..0000000000
--- a/scripts/init.sh
+++ /dev/null
@@ -1,23 +0,0 @@
-#!/usr/bin/env bash
-
-set -e
-source $HOME/.cargo/env
-
-echo "*** Initializing WASM build environment"
-
-# TODO: 'rust-toolchain' is allowed to be a TOML file:
-# https://github.com/rust-lang/rustup/blob/master/doc/src/overrides.md#the-toolchain-file
-RUST_NIGHTLY_VERSION=$(cat rust-toolchain)
-
-if [ -z ${WASM_BUILD_TOOLCHAIN+x} ]; then
-  WASM_BUILD_TOOLCHAIN=$RUST_NIGHTLY_VERSION
-fi
-
-if [ -z $CI_PROJECT_NAME ] ; then
-  rustup update $WASM_BUILD_TOOLCHAIN
-  rustup update stable
-fi
-
-rustup component add clippy
-
-rustup target add wasm32-unknown-unknown --toolchain $WASM_BUILD_TOOLCHAIN