The spectrum SpaceX is buying could let it beam full 5G service from space to cell phones. But that depends on it launching more powerful satellites with a rocket still in development.

The U.S. Federal Communications Commission will terminate its investigation into EchoStar's 5G buildout obligations in the country, according to a letter from the agency's chair.The expected move follows EchoStar's $17 billion deal to sell wireless spectrum to billionaire Elon Musk's SpaceX and two weeks after it announced a $23 billion spectrum sale to AT&T.

Elon Musk’s SpaceX has reached a deal worth about $17 billion with EchoStar for spectrum licenses that it will use to beef up its Starlink satellite network.