Banned and Restricted Update, February 15th 2021
As already spoiled in the Secret Lair's Smitten Superdrop announcement it is now official: the B&R announcement of February 15th 2021. The date was not officially known yet, but people quickly figured out when to expect it when they found the still hidden announcement from WotC. But not sure everyone expected this much of a format shake-up!
Legacy
Modern
Vintage
Pioneer
Historic
These changes will be effective from February 15th 2021. Read the full announcement over at Wizards
Rules change
Additionally, Wizards is updating the rules for cascade to address interactions in older formats. This rule will be implemented on Magic Online on Wednesday, February 17. The new rule for cascade is as follows:
702.84a. Cascade is a triggered ability that functions only while the spell with cascade is on the stack. "Cascade" means "When you cast this spell, exile cards from the top of your library until you exile a nonland card whose converted mana cost is less than this spell's converted mana cost. You may cast that spell without paying its mana cost if its converted mana cost is less than this spell's converted mana cost. Then put all cards exiled this way that weren't cast on the bottom of your library in a random order."
Cascade rule effective date for Magic Online: February 17, 2021