I have one client i this industry, they're registered in Cayman IslandsHi
I have a client who is planning an NFT project which would be the best jurisdiction for registering the same so as to minimise taxes and also have good banking options .Two Founders are Belgian and Lebanese nationality.
Even with a VARA license you won't be able to open a bank account for crypto company in the UAE. Chances are close to zero.
In Switzerland we were looking to pony up the capital for a RWA company (that had a valuation of 600m based on revenues).Mandatory hiring of AML officers in some jurisdictions.