Legally, I don't see why not.
Practically, I know of no US parts to bring it into compliance, so you've have to design and make those yourself.
Somebody had Galil .223 post ban receivers for $350 not long ago. They also had Galil parts kits. Just the price of the parts kit and receiver would run about $1100. That's a lot of money, considering you haven't even started to put the thing together or make the US parts.