BRUSSELS: The European Central Bank (ECB) announced on Wednesday it would stop printing and distributing the 500 euro banknote.
According to a statement made by the ECB, the decision was made due to concerns the banknote could facilitate illicit activities. The issuance of the banknote will be stopped around the end of 2018.
The 500 euro banknotes currently in circulation will continue to be used as a means of payment, said the statement.
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