 On 10 January 2020, the 500 euro note was phased out in Denmark as part of the fight against money laundering and the financing of terrorism, meaning "handing out, handing in, exchanging, using as payment or transferring" the banknote in Denmark was made illegal.At the time, the banknote was worth 3,737 Danish kroner (DKK), more than three times the highest denomination of the domestic currency, the thousand-kroner banknote.The European Central Bank had stopped issuing the banknote in 2019, but was critical of the law.