diff --git a/ouroboros-network/src/Ouroboros/Network/TxSubmission/Inbound/Registry.hs b/ouroboros-network/src/Ouroboros/Network/TxSubmission/Inbound/Registry.hs
index 013d4a9634..94822139e0 100644
--- a/ouroboros-network/src/Ouroboros/Network/TxSubmission/Inbound/Registry.hs
+++ b/ouroboros-network/src/Ouroboros/Network/TxSubmission/Inbound/Registry.hs
@@ -18,6 +18,7 @@ import Control.Concurrent.Class.MonadMVar.Strict
 import Control.Concurrent.Class.MonadSTM.Strict
 import Control.Monad.Class.MonadThrow
 import Control.Monad.Class.MonadTimer.SI
+import Control.Tracer (Tracer (..), traceWith)
 
 import Data.Foldable (foldl', traverse_)
 import Data.Map.Strict (Map)
@@ -84,7 +85,8 @@ withPeer
        , Ord peeraddr
        , Show peeraddr
        )
-    => TxChannelsVar m peeraddr txid tx
+    => Tracer m (DebugSharedTxState peeraddr txid tx)
+    -> TxChannelsVar m peeraddr txid tx
     -> SharedTxStateVar m peeraddr txid tx
     -> TxSubmissionMempoolReader txid tx idx m
     -> peeraddr
@@ -92,7 +94,8 @@ withPeer
     -> (PeerTxAPI m txid tx -> m a)
     -- ^ callback which gives access to `PeerTxStateAPI`
     -> m a
-withPeer channelsVar
+withPeer tracer
+         channelsVar
          sharedStateVar
          TxSubmissionMempoolReader { mempoolGetSnapshot }
          peeraddr io =
@@ -188,7 +191,8 @@ withPeer channelsVar
       -- TODO: hide this inside `receivedTxIds` so it's run in the same STM
       -- transaction.
       mempoolSnapshot <- atomically mempoolGetSnapshot
-      receivedTxIds sharedStateVar
+      receivedTxIds tracer
+                    sharedStateVar
                     mempoolSnapshot
                     peeraddr
                     numTxIdsToReq
@@ -202,7 +206,7 @@ withPeer channelsVar
                       -- ^ received txs
                       -> m ()
     handleReceivedTxs txids txs =
-      collectTxs sharedStateVar peeraddr txids txs
+      collectTxs tracer sharedStateVar peeraddr txids txs
 
 
 decisionLogicThread
@@ -213,12 +217,13 @@ decisionLogicThread
        , Ord peeraddr
        , Ord txid
        )
-    => TxDecisionPolicy
+    => Tracer m (DebugSharedTxState peeraddr txid tx)
+    -> TxDecisionPolicy
     -> StrictTVar m (Map peeraddr PeerGSV)
     -> TxChannelsVar m peeraddr txid tx
     -> SharedTxStateVar m peeraddr txid tx
     -> m Void
-decisionLogicThread policy gsvVar txChannelsVar sharedStateVar = go
+decisionLogicThread tracer policy gsvVar txChannelsVar sharedStateVar = go
   where
     go :: m Void
     go = do
@@ -226,7 +231,7 @@ decisionLogicThread policy gsvVar txChannelsVar sharedStateVar = go
       -- if there are too many inbound connections.
       threadDelay 0.005 -- 5ms
 
-      decisions <- atomically do
+      (decisions, st) <- atomically do
         sharedCtx <-
               SharedDecisionContext
           <$> readTVar gsvVar
@@ -238,7 +243,8 @@ decisionLogicThread policy gsvVar txChannelsVar sharedStateVar = go
 
         let (sharedState, decisions) = makeDecisions policy sharedCtx activePeers
         writeTVar sharedStateVar sharedState
-        return decisions
+        return (decisions, sharedState)
+      traceWith tracer (DebugSharedTxState st)
       TxChannels { txChannelMap } <- readMVar txChannelsVar
       traverse_
         (\(mvar, d) -> modifyMVar_ mvar (\d' -> pure (d' <> d)))
diff --git a/ouroboros-network/src/Ouroboros/Network/TxSubmission/Inbound/State.hs b/ouroboros-network/src/Ouroboros/Network/TxSubmission/Inbound/State.hs
index 532d7fdaa8..abdcdcef93 100644
--- a/ouroboros-network/src/Ouroboros/Network/TxSubmission/Inbound/State.hs
+++ b/ouroboros-network/src/Ouroboros/Network/TxSubmission/Inbound/State.hs
@@ -16,6 +16,8 @@ module Ouroboros.Network.TxSubmission.Inbound.State
   , collectTxs
   , acknowledgeTxIds
   , hasTxIdsToAcknowledge
+    -- * Debug output
+  , DebugSharedTxState (..)
     -- * Internals, only exported for testing purposes:
   , RefCountDiff (..)
   , updateRefCounts
@@ -25,6 +27,7 @@ module Ouroboros.Network.TxSubmission.Inbound.State
 
 import Control.Concurrent.Class.MonadSTM.Strict
 import Control.Exception (assert)
+import Control.Tracer (Tracer, traceWith)
 
 import Data.Foldable (fold, foldl', toList)
 import Data.Map.Merge.Strict qualified as Map
@@ -534,7 +537,8 @@ newSharedTxStateVar = newTVarIO SharedTxState { peerTxStates    = Map.empty,
 receivedTxIds
   :: forall m peeraddr idx tx txid.
      (MonadSTM m, Ord txid, Ord peeraddr)
-  => SharedTxStateVar m peeraddr txid tx
+  => Tracer m (DebugSharedTxState peeraddr txid tx)
+  -> SharedTxStateVar m peeraddr txid tx
   -> MempoolSnapshot txid tx idx
   -> peeraddr
   -> NumTxIdsToReq
@@ -545,9 +549,10 @@ receivedTxIds
   -> Map txid SizeInBytes
   -- ^ received `txid`s with sizes
   -> m ()
-receivedTxIds sharedVar MempoolSnapshot{mempoolHasTx} peeraddr reqNo txidsSeq txidsMap =
-  atomically $
-    modifyTVar sharedVar (receivedTxIdsImpl mempoolHasTx peeraddr reqNo txidsSeq txidsMap)
+receivedTxIds tracer sharedVar MempoolSnapshot{mempoolHasTx} peeraddr reqNo txidsSeq txidsMap = do
+  st <- atomically $
+    stateTVar sharedVar ((\a -> (a,a)) . receivedTxIdsImpl mempoolHasTx peeraddr reqNo txidsSeq txidsMap)
+  traceWith tracer (DebugSharedTxState st)
 
 
 -- | Include received `tx`s in `SharedTxState`.  Return number of `txids`
@@ -556,14 +561,25 @@ receivedTxIds sharedVar MempoolSnapshot{mempoolHasTx} peeraddr reqNo txidsSeq tx
 collectTxs
   :: forall m peeraddr tx txid.
      (MonadSTM m, Ord txid, Ord peeraddr)
-  => SharedTxStateVar m peeraddr txid tx
+  => Tracer m (DebugSharedTxState peeraddr txid tx)
+  -> SharedTxStateVar m peeraddr txid tx
   -> peeraddr
   -> Set txid    -- ^ set of requested txids
   -> Map txid tx -- ^ received txs
   -> m ()
   -- ^ number of txids to be acknowledged and txs to be added to the
   -- mempool
-collectTxs sharedVar peeraddr txidsRequested txsMap =
-  atomically $
-    modifyTVar sharedVar
-               (collectTxsImpl peeraddr txidsRequested txsMap)
+collectTxs tracer sharedVar peeraddr txidsRequested txsMap = do
+  st <- atomically $
+    stateTVar sharedVar
+      ((\a -> (a,a)) . collectTxsImpl peeraddr txidsRequested txsMap)
+  traceWith tracer (DebugSharedTxState st)
+
+--
+--
+--
+
+-- | Debug tracer.
+--
+newtype DebugSharedTxState peeraddr txid tx = DebugSharedTxState (SharedTxState peeraddr txid tx)
+  deriving Show