diff --git a/CHANGELOG.md b/CHANGELOG.md
index e9653b3d..6af2d369 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -9,6 +9,7 @@ While backward compatibility is maintained for now, users are encouraged to upda
 
 - `$anchor` support.
 - `$recursiveRef` & `$recursiveAnchor` support in Draft 2019-09.
+- `$dynamicRef` & `$dynamicAnchor` support in Draft 2020-12.
 
 ### Changed
 
diff --git a/crates/jsonschema-py/CHANGELOG.md b/crates/jsonschema-py/CHANGELOG.md
index 789000b9..051059c4 100644
--- a/crates/jsonschema-py/CHANGELOG.md
+++ b/crates/jsonschema-py/CHANGELOG.md
@@ -6,6 +6,7 @@
 
 - `$anchor` support.
 - `$recursiveRef` & `$recursiveAnchor` support in Draft 2019-09.
+- `$dynamicRef` & `$dynamicAnchor` support in Draft 2020-12.
 
 ### Changed
 
diff --git a/crates/jsonschema-referencing/src/anchors/mod.rs b/crates/jsonschema-referencing/src/anchors/mod.rs
index fee645ee..37958d3c 100644
--- a/crates/jsonschema-referencing/src/anchors/mod.rs
+++ b/crates/jsonschema-referencing/src/anchors/mod.rs
@@ -33,7 +33,11 @@ impl Anchor {
     /// Get the resource for this anchor.
     pub(crate) fn resolve<'r>(&'r self, resolver: Resolver<'r>) -> Result<Resolved<'r>, Error> {
         match self {
-            Anchor::Default { resource, .. } => Ok(Resolved::new(resource.contents(), resolver)),
+            Anchor::Default { resource, .. } => Ok(Resolved::new(
+                resource.contents(),
+                resolver,
+                resource.draft(),
+            )),
             Anchor::Dynamic { name, resource, .. } => {
                 let mut last = resource;
                 for uri in resolver.dynamic_scope() {
@@ -50,6 +54,7 @@ impl Anchor {
                 Ok(Resolved::new(
                     last.contents(),
                     resolver.in_subresource((**last).as_ref())?,
+                    last.draft(),
                 ))
             }
         }
@@ -189,7 +194,7 @@ mod tests {
             .lookup("#fooAnchor")
             .expect("Lookup failed");
         assert_eq!(fourth.contents(), root.contents());
-        assert_eq!(format!("{:?}", fourth.resolver()), "Resolver { base_uri: \"http://example.com\", parent: \"[http://example.com/foo/, http://example.com, http://example.com]\" }");
+        assert_eq!(format!("{:?}", fourth.resolver()), "Resolver { base_uri: \"http://example.com\", scopes: \"[http://example.com/foo/, http://example.com, http://example.com]\" }");
     }
 
     #[test]
diff --git a/crates/jsonschema-referencing/src/registry.rs b/crates/jsonschema-referencing/src/registry.rs
index ffb1bc69..86796c82 100644
--- a/crates/jsonschema-referencing/src/registry.rs
+++ b/crates/jsonschema-referencing/src/registry.rs
@@ -786,7 +786,7 @@ mod tests {
             .expect("Invalid base URI");
         assert_eq!(
             format!("{resolver:?}"),
-            "Resolver { base_uri: \"http://127.0.0.1/schema\", parent: \"[]\" }"
+            "Resolver { base_uri: \"http://127.0.0.1/schema\", scopes: \"[]\" }"
         );
     }
 
diff --git a/crates/jsonschema-referencing/src/resolver.rs b/crates/jsonschema-referencing/src/resolver.rs
index 4a05c4b0..f6cc3e0f 100644
--- a/crates/jsonschema-referencing/src/resolver.rs
+++ b/crates/jsonschema-referencing/src/resolver.rs
@@ -4,7 +4,7 @@ use std::collections::VecDeque;
 use fluent_uri::UriRef;
 use serde_json::Value;
 
-use crate::{uri, Error, Registry, ResourceRef};
+use crate::{uri, Draft, Error, Registry, ResourceRef};
 
 /// A reference resolver.
 ///
@@ -27,7 +27,7 @@ impl<'r> fmt::Debug for Resolver<'r> {
     fn fmt(&self, f: &mut fmt::Formatter<'_>) -> fmt::Result {
         f.debug_struct("Resolver")
             .field("base_uri", &self.base_uri.as_str())
-            .field("parent", &{
+            .field("scopes", &{
                 let mut buf = String::from("[");
                 let mut values = self.scopes.iter();
                 if let Some(value) = values.next() {
@@ -56,12 +56,12 @@ impl<'r> Resolver<'r> {
     pub(crate) fn from_parts(
         registry: &'r Registry,
         base_uri: UriRef<String>,
-        parent: VecDeque<UriRef<String>>,
+        scopes: VecDeque<UriRef<String>>,
     ) -> Self {
         Self {
             registry,
             base_uri,
-            scopes: parent,
+            scopes,
         }
     }
     #[must_use]
@@ -104,7 +104,11 @@ impl<'r> Resolver<'r> {
         }
 
         let resolver = self.evolve(uri);
-        Ok(Resolved::new(retrieved.contents(), resolver))
+        Ok(Resolved::new(
+            retrieved.contents(),
+            resolver,
+            retrieved.draft(),
+        ))
     }
     /// Resolve a recursive reference.
     ///
@@ -198,11 +202,16 @@ pub struct Resolved<'r> {
     contents: &'r Value,
     /// The resolver that resolved this reference, which can be used for further resolutions.
     resolver: Resolver<'r>,
+    draft: Draft,
 }
 
 impl<'r> Resolved<'r> {
-    pub(crate) fn new(contents: &'r Value, resolver: Resolver<'r>) -> Self {
-        Self { contents, resolver }
+    pub(crate) fn new(contents: &'r Value, resolver: Resolver<'r>, draft: Draft) -> Self {
+        Self {
+            contents,
+            resolver,
+            draft,
+        }
     }
     /// Resolved contents.
     #[must_use]
@@ -216,7 +225,11 @@ impl<'r> Resolved<'r> {
     }
 
     #[must_use]
-    pub fn into_inner(self) -> (&'r Value, Resolver<'r>) {
-        (self.contents, self.resolver)
+    pub fn draft(&self) -> Draft {
+        self.draft
+    }
+    #[must_use]
+    pub fn into_inner(self) -> (&'r Value, Resolver<'r>, Draft) {
+        (self.contents, self.resolver, self.draft)
     }
 }
diff --git a/crates/jsonschema-referencing/src/resource.rs b/crates/jsonschema-referencing/src/resource.rs
index 29066c23..93d664b1 100644
--- a/crates/jsonschema-referencing/src/resource.rs
+++ b/crates/jsonschema-referencing/src/resource.rs
@@ -99,7 +99,7 @@ impl Resource {
             }
             resolver = new_resolver;
         }
-        Ok(Resolved::new(contents, resolver))
+        Ok(Resolved::new(contents, resolver, self.draft()))
     }
     /// Give a reference to the underlying contents together with draft.
     #[must_use]
diff --git a/crates/jsonschema/src/compiler.rs b/crates/jsonschema/src/compiler.rs
index b73e1790..09faeef6 100644
--- a/crates/jsonschema/src/compiler.rs
+++ b/crates/jsonschema/src/compiler.rs
@@ -202,7 +202,7 @@ impl<'a> Context<'a> {
         &self,
         reference: &str,
         is_recursive: bool,
-    ) -> Result<Option<(Uri, Resource)>, ValidationError<'static>> {
+    ) -> Result<Option<(Uri, VecDeque<Uri>, Resource)>, ValidationError<'static>> {
         let resolved = if reference == "#" {
             // Known & simple recursive reference
             // It may also use some additional logic from the `$recursiveAnchor` keyword
@@ -218,15 +218,16 @@ impl<'a> Context<'a> {
             return Ok(None);
         };
         let resource = self.draft().create_resource(resolved.contents().clone());
-        let base_uri = if let Some(id) = resource.id() {
-            uri::from_str(id)?
-        } else {
-            resolved.resolver().base_uri().to_owned()
+        let mut base_uri = resolved.resolver().base_uri().to_owned();
+        let scopes = resolved
+            .resolver()
+            .dynamic_scope()
+            .cloned()
+            .collect::<VecDeque<_>>();
+        if let Some(id) = resource.id() {
+            base_uri = uri::resolve_against(&base_uri.borrow(), id)?;
         };
-        if !is_recursive {
-            self.mark_seen(reference)?;
-        }
-        Ok(Some((base_uri, resource)))
+        Ok(Some((base_uri, scopes, resource)))
     }
 }
 
diff --git a/crates/jsonschema/src/keywords/mod.rs b/crates/jsonschema/src/keywords/mod.rs
index 9f4b7f64..9b078741 100644
--- a/crates/jsonschema/src/keywords/mod.rs
+++ b/crates/jsonschema/src/keywords/mod.rs
@@ -133,7 +133,10 @@ pub(crate) fn get_for_draft(draft: Draft, keyword: &str) -> Option<CompileFunc>
             Some(unevaluated_properties::compile)
         }
 
-        // Default case
+        // Draft 2020-12 specific
+        (Draft::Draft202012, "$dynamicRef") => Some(ref_::compile),
+
+        // Unknown or not-yet-implemented keyword
         _ => None,
     }
 }
diff --git a/crates/jsonschema/src/keywords/ref_.rs b/crates/jsonschema/src/keywords/ref_.rs
index ed26a7f6..4f02b7f4 100644
--- a/crates/jsonschema/src/keywords/ref_.rs
+++ b/crates/jsonschema/src/keywords/ref_.rs
@@ -26,8 +26,9 @@ impl RefValidator {
         reference: &str,
         is_recursive: bool,
     ) -> CompilationResult<'a> {
-        let scopes = ctx.scopes();
-        if let Some((base_uri, resource)) = ctx.lookup_maybe_recursive(reference, is_recursive)? {
+        if let Some((base_uri, scopes, resource)) =
+            ctx.lookup_maybe_recursive(reference, is_recursive)?
+        {
             Ok(Box::new(RefValidator::Lazy(LazyRefValidator {
                 resource,
                 config: Arc::clone(ctx.config()),
@@ -38,8 +39,8 @@ impl RefValidator {
                 inner: OnceCell::default(),
             })))
         } else {
-            let (contents, resolver) = ctx.lookup(reference)?.into_inner();
-            let resource_ref = ctx.as_resource_ref(contents);
+            let (contents, resolver, draft) = ctx.lookup(reference)?.into_inner();
+            let resource_ref = draft.create_resource_ref(contents);
             let ctx = ctx.with_resolver_and_draft(resolver, resource_ref.draft());
             let inner =
                 compiler::compile_with(&ctx, resource_ref).map_err(|err| err.into_owned())?;
diff --git a/crates/jsonschema/src/keywords/unevaluated_properties.rs b/crates/jsonschema/src/keywords/unevaluated_properties.rs
index d17dacf4..a294409a 100644
--- a/crates/jsonschema/src/keywords/unevaluated_properties.rs
+++ b/crates/jsonschema/src/keywords/unevaluated_properties.rs
@@ -1235,7 +1235,7 @@ impl ReferenceSubvalidator {
             .get("$recursiveAnchor")
             .and_then(Value::as_bool)
             .unwrap_or_default();
-        if let Some((_, resource)) = ctx.lookup_maybe_recursive(reference, is_recursive)? {
+        if let Some((_, _, resource)) = ctx.lookup_maybe_recursive(reference, is_recursive)? {
             Self::from_value_impl(ctx, parent, resource.contents())
         } else {
             let resolved = ctx.lookup(reference)?;
diff --git a/crates/jsonschema/tests/suite.rs b/crates/jsonschema/tests/suite.rs
index 252b7779..209882d1 100644
--- a/crates/jsonschema/tests/suite.rs
+++ b/crates/jsonschema/tests/suite.rs
@@ -29,10 +29,7 @@ use testsuite::{suite, Test};
         "draft2019-09::unevaluated_items",
         "draft2019-09::unevaluated_properties::unevaluated_properties_with_recursive_ref",
         "draft2019-09::vocabulary::schema_that_uses_custom_metaschema_with_with_no_validation_vocabulary",
-        "draft2020-12::defs::validate_definition_against_metaschema::invalid_definition_schema",
-        "draft2020-12::dynamic_ref",
         "draft2020-12::optional::cross_draft::refs_to_historic_drafts_are_processed_as_historic_drafts",
-        "draft2020-12::optional::dynamic_ref::dynamic_ref_skips_over_intermediate_resources_pointer_reference_across_resource_boundary",
         "draft2020-12::optional::ecmascript_regex::d_in_pattern_properties_matches_0_9_not_unicode_digits",
         "draft2020-12::optional::ecmascript_regex::w_in_pattern_properties_matches_a_za_z0_9_not_unicode_letters",
         "draft2020-12::optional::format::duration::validation_of_duration_strings",