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Remove the washer and try again.
The washers are there to make up for small differences in bottom bracket shell width. This is because the crank spindles are a set length (in systems other than Shimano's) and mean you don't get to change the distance between the cranks. So manufacturers set the spindle length quite long to allow for the widest BB shells and then supply wavy washers for all the rest of us who don't have the widest shells.
This is why, on some bikes with say Campagnolo UT cranks, you can go to the NDS and push the crank inboard 1-2 mm, compressing that washer. Release and it'll return.
You've just found a frame with a slightly wider shell.
Ndeipi
I don’t really understand wave washers.
Are they specific to a crankset or to a frame?
I’ve swapped a like for like crankset onto my turbo bike (same spindle diameter and width) to free up my power meter and used exactly the same bearing covers and washers but the cranks are binding when tightened properly. Shall I try and add more wave washers?
They don’t seem as though they’re thick or rigid enough to do much.