Iran relied on digital dollars issued by Tether, one of the world’s most profitable cryptocurrency companies, to circumvent the U.S. sanctions regime, according to a Wall Street Journal report published Monday, citing a report that Senate Democrats plan to release later in the day.

According to the Journal, the report by the Senate Permanent Subcommittee on Investigations says Tether’s stablecoin became a major means of payment for the Iranian regime and a tool for financing proxy terrorist organizations such as Hezbollah.

Stablecoins are a type of cryptocurrency pegged to real-world currencies — in the case of USDT, the U.S. dollar. That makes them less volatile than other digital assets and more…