diff --git a/Sources/ComposableArchitecture/Internal/CurrentValueRelay.swift b/Sources/ComposableArchitecture/Internal/CurrentValueRelay.swift
index 98e22980850c..6f8a9eb61c4d 100644
--- a/Sources/ComposableArchitecture/Internal/CurrentValueRelay.swift
+++ b/Sources/ComposableArchitecture/Internal/CurrentValueRelay.swift
@@ -79,23 +79,27 @@ extension CurrentValueRelay {
     }
 
     func receive(_ value: Output) {
-      guard let downstream else { return }
+      self.lock.lock()
+
+      guard let downstream else {
+        self.lock.unlock()
+        return
+      }
 
       switch self.demand {
       case .unlimited:
+        self.lock.unlock()
         // NB: Adding to unlimited demand has no effect and can be ignored.
         _ = downstream.receive(value)
 
       case .none:
-        self.lock.sync {
-          self.receivedLastValue = false
-        }
+        self.receivedLastValue = false
+        self.lock.unlock()
 
       default:
-        self.lock.sync {
-          self.receivedLastValue = true
-          self.demand -= 1
-        }
+        self.receivedLastValue = true
+        self.demand -= 1
+        self.lock.unlock()
         let moreDemand = downstream.receive(value)
         self.lock.sync {
           self.demand += moreDemand
@@ -106,14 +110,18 @@ extension CurrentValueRelay {
     func request(_ demand: Subscribers.Demand) {
       precondition(demand > 0, "Demand must be greater than zero")
 
-      guard let downstream else { return }
-
       self.lock.lock()
+
+      guard let downstream else {
+        self.lock.unlock()
+        return
+      }
+
       self.demand += demand
 
       guard
         !self.receivedLastValue,
-        let value = self.upstream?.currentValue
+        let value = self.upstream?.value
       else {
         self.lock.unlock()
         return
diff --git a/Tests/ComposableArchitectureTests/CurrentValueRelayTests.swift b/Tests/ComposableArchitectureTests/CurrentValueRelayTests.swift
index 4bf45d8a2ea8..a1dcfa7d085b 100644
--- a/Tests/ComposableArchitectureTests/CurrentValueRelayTests.swift
+++ b/Tests/ComposableArchitectureTests/CurrentValueRelayTests.swift
@@ -25,5 +25,35 @@
 
       _ = cancellable
     }
+
+    @available(macOS 12.0, iOS 15.0, tvOS 15.0, watchOS 8.0, *)
+    func testConcurrentSendAndReceive() async {
+      nonisolated(unsafe) let subject = CurrentValueRelay(0)
+      let values = LockIsolated<Set<Int>>([])
+      let cancellable = subject.sink { (value: Int) in
+        values.withValue {
+          _ = $0.insert(value)
+        }
+      }
+
+      let receives = Task.detached { @Sendable in
+        for await _ in subject.values {}
+      }
+
+      await withTaskGroup(of: Void.self) { group in
+        for index in 1...1_000 {
+          group.addTask { @Sendable in
+            subject.send(index)
+          }
+        }
+      }
+
+      receives.cancel()
+      _ = await receives.value
+
+      XCTAssertEqual(values.value, Set(Array(0...1_000)))
+
+      _ = cancellable
+    }
   }
 #endif