Where the King lies and lies, on edge around grasping politician (7)
I believe the answer is:
memphis
'where the king lies' is the definition.
The answer is a location as well as being a singular noun. This is suggested by the definition.
'lies on edge around grasping politician' is the wordplay.
'lies on' becomes 'si' (I can't explain this - if you can you should believe this answer much more).
'edge' becomes 'hem' (a hem is an edge on a piece of cloth).
'around' says the letters should be written in reverse.
'grasping' means one lot of letters goes inside another (inserted letters are held or grasped).
'politician' becomes 'MP' (Member of Parliament).
'si'+'hem'='sihem'
'sihem' in reverse letter order is 'mehis'.
'mehis' placed around 'mp' is 'MEMPHIS'.
'and' is the link.
Can you help me to learn more?
(Other definitions for memphis that I've seen before include "Name of city at different times overlooking the Nile and Mississippi?" , "Ancient Egyptian city" , "City of Tennessee/Egypt" , "US city where Gracelands is located" , "Largest city in Tennessee" .)