Yes, In order to invoke federal jurisdiction the SEC uses the fact that they communicated beyond state lines over the wire. This is why all the charges are called wire fraud. Relevant: https://www.law.cornell.edu/wex/commerce_clause
Whether a wire left the state means dick to whether the federal government has constitutional authority over it, per supreme court.
Interesting case, thanks. Here's a link if someone else is interested: https://en.wikipedia.org/wiki/Wickard_v._Filburn