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Yeah Jimmy it would be... You will have to edit register.php to do this, but I would suggest leaving it in the first part of the form, as this is the part attacked by robots, see if you put it at the finish button, it would make the sign up process, 2 steps of data entry... Most people find signing up to a site, annoying, but none the less, I would advise you to leave your form protected rather than the second step as it has put the data, i believe in the database at this point (but don't quote me on this).
Personally i will not do this in the version release I have done, but I am sure you would be able to do this, it is a simple modification to the script...
Later buddy!!