diff --git a/implementation/src/main/java/io/smallrye/mutiny/operators/multi/MultiOperatorProcessor.java b/implementation/src/main/java/io/smallrye/mutiny/operators/multi/MultiOperatorProcessor.java
index 352c68be8..97d501d6a 100644
--- a/implementation/src/main/java/io/smallrye/mutiny/operators/multi/MultiOperatorProcessor.java
+++ b/implementation/src/main/java/io/smallrye/mutiny/operators/multi/MultiOperatorProcessor.java
@@ -13,16 +13,21 @@
 
 public abstract class MultiOperatorProcessor<I, O> implements MultiSubscriber<I>, Subscription {
 
-    // Cannot be final, the TCK checks it gets released.
+    /*
+     * We used to have an interpretation of the RS TCK that it had to be null on cancellation to release the subscriber.
+     * It's actually not necessary (and NPE-prone) since operators are instantiated per-subscription, so the *publisher*
+     * does not actually keep references on cancelled subscribers.
+     */
     protected volatile MultiSubscriber<? super O> downstream;
+
     protected volatile Subscription upstream = null;
-    private volatile int hasDownstreamCancelled = 0;
+    private volatile int cancellationRequested = 0;
 
     private static final AtomicReferenceFieldUpdater<MultiOperatorProcessor, Subscription> UPSTREAM_UPDATER = AtomicReferenceFieldUpdater
             .newUpdater(MultiOperatorProcessor.class, Subscription.class, "upstream");
 
-    private static final AtomicIntegerFieldUpdater<MultiOperatorProcessor> DOWNSTREAM_CANCELLED_UPDATER = AtomicIntegerFieldUpdater
-            .newUpdater(MultiOperatorProcessor.class, "hasDownstreamCancelled");
+    private static final AtomicIntegerFieldUpdater<MultiOperatorProcessor> CANCELLATION_REQUESTED_UPDATER = AtomicIntegerFieldUpdater
+            .newUpdater(MultiOperatorProcessor.class, "cancellationRequested");
 
     public MultiOperatorProcessor(MultiSubscriber<? super O> downstream) {
         this.downstream = ParameterValidation.nonNull(downstream, "downstream");
@@ -53,7 +58,7 @@ protected boolean isDone() {
     }
 
     protected boolean isCancelled() {
-        return hasDownstreamCancelled == 1;
+        return cancellationRequested == 1;
     }
 
     @Override
@@ -107,25 +112,20 @@ public void request(long numberOfItems) {
 
     @Override
     public void cancel() {
-        if (atomicallyFlipDownstreamHasCancelled()) {
+        if (compareAndSwapDownstreamCancellationRequest()) {
             cancelUpstream();
-            cleanup();
         }
     }
 
-    protected final boolean atomicallyFlipDownstreamHasCancelled() {
-        return DOWNSTREAM_CANCELLED_UPDATER.compareAndSet(this, 0, 1);
+    protected final boolean compareAndSwapDownstreamCancellationRequest() {
+        return CANCELLATION_REQUESTED_UPDATER.compareAndSet(this, 0, 1);
     }
 
     protected void cancelUpstream() {
+        this.cancellationRequested = 1;
         Subscription actual = UPSTREAM_UPDATER.getAndSet(this, CANCELLED);
         if (actual != null && actual != CANCELLED) {
             actual.cancel();
         }
     }
-
-    protected void cleanup() {
-        downstream = null;
-    }
-
 }
diff --git a/implementation/src/main/java/io/smallrye/mutiny/operators/multi/MultiWindowOp.java b/implementation/src/main/java/io/smallrye/mutiny/operators/multi/MultiWindowOp.java
index d5623d7d0..a02be4257 100644
--- a/implementation/src/main/java/io/smallrye/mutiny/operators/multi/MultiWindowOp.java
+++ b/implementation/src/main/java/io/smallrye/mutiny/operators/multi/MultiWindowOp.java
@@ -162,7 +162,7 @@ public void request(long n) {
 
         @Override
         public void cancel() {
-            if (atomicallyFlipDownstreamHasCancelled()) {
+            if (compareAndSwapDownstreamCancellationRequest()) {
                 if (count.decrementAndGet() == 0) {
                     getUpstreamSubscription().cancel();
                 }
@@ -276,7 +276,7 @@ public void request(long n) {
 
         @Override
         public void cancel() {
-            if (atomicallyFlipDownstreamHasCancelled()) {
+            if (compareAndSwapDownstreamCancellationRequest()) {
                 if (count.decrementAndGet() == 0) {
                     getUpstreamSubscription().cancel();
                 }
@@ -467,7 +467,7 @@ public void request(long n) {
 
         @Override
         public void cancel() {
-            if (atomicallyFlipDownstreamHasCancelled()) {
+            if (compareAndSwapDownstreamCancellationRequest()) {
                 run();
             }
         }
diff --git a/implementation/src/test/java/io/smallrye/mutiny/BugReproducersTest.java b/implementation/src/test/java/io/smallrye/mutiny/BugReproducersTest.java
index 51f011502..d6c10493b 100644
--- a/implementation/src/test/java/io/smallrye/mutiny/BugReproducersTest.java
+++ b/implementation/src/test/java/io/smallrye/mutiny/BugReproducersTest.java
@@ -1,18 +1,28 @@
 package io.smallrye.mutiny;
 
 import static org.assertj.core.api.Assertions.assertThat;
+import static org.awaitility.Awaitility.await;
+import static org.hamcrest.Matchers.greaterThanOrEqualTo;
 
+import java.util.List;
+import java.util.concurrent.ExecutorService;
+import java.util.concurrent.Executors;
+import java.util.concurrent.ThreadFactory;
+import java.util.concurrent.TimeUnit;
+import java.util.concurrent.atomic.AtomicInteger;
 import java.util.concurrent.atomic.AtomicLong;
+import java.util.concurrent.atomic.AtomicReference;
 
 import org.junit.jupiter.api.RepeatedTest;
+import org.junit.jupiter.api.Test;
 
 import io.smallrye.mutiny.helpers.test.AssertSubscriber;
 import io.smallrye.mutiny.infrastructure.Infrastructure;
 
-public class BugReproducersTest {
+class BugReproducersTest {
 
     @RepeatedTest(100)
-    public void reproducer_689() {
+    void reproducer_689() {
         // Adapted from https://github.com/smallrye/smallrye-mutiny/issues/689
         AtomicLong src = new AtomicLong();
 
@@ -26,4 +36,43 @@ public void reproducer_689() {
         sub.awaitCompletion();
         assertThat(sub.getItems()).hasSize(9_999);
     }
+
+    @Test
+    void reproducer_705() {
+        // Adapted from https://github.com/smallrye/smallrye-mutiny/issues/705
+        // The issue was an over-interpretation of one of the RS TCK rule regarding releasing subscriber references.
+        AssertSubscriber<List<Integer>> sub = AssertSubscriber.create();
+        AtomicInteger counter = new AtomicInteger();
+        AtomicReference<Throwable> threadFailure = new AtomicReference<>();
+
+        ExecutorService threadPool = Executors.newFixedThreadPool(4, new ThreadFactory() {
+            @Override
+            public Thread newThread(Runnable task) {
+                Thread thread = Executors.defaultThreadFactory().newThread(task);
+                thread.setUncaughtExceptionHandler((t, e) -> {
+                    e.printStackTrace();
+                    threadFailure.set(e);
+                });
+                return thread;
+            }
+        });
+
+        Multi.createFrom().range(0, 1000)
+                .emitOn(threadPool)
+                .group().intoLists().of(100)
+                .onItem().invoke(() -> {
+                    if (counter.incrementAndGet() == 3) {
+                        sub.cancel();
+                    }
+                })
+                .runSubscriptionOn(threadPool)
+                .subscribe().withSubscriber(sub);
+
+        sub.request(Long.MAX_VALUE);
+        await().atMost(5, TimeUnit.SECONDS).untilAtomic(counter, greaterThanOrEqualTo(3));
+
+        assertThat(threadFailure.get()).isNull();
+        sub.assertNotTerminated();
+        threadPool.shutdownNow();
+    }
 }