With the rotation of Return to Ravnica for Khans of Tarkir, all sanctioned formats as well as the group that oversees the Commander format announced their updates to banned and restricted lists.
The following changes are:
Standard
No changes
Modern
Dig Through Time, Treasure Cruise, and Birthing Pod are banned. Golgari Grave-Troll is unbanned.
Legacy
Treasure Cruise is banned. Worldgorger Dragon is unbanned.
Vintage
Treasure Cruise is restricted. Gifts Ungiven is unrestricted.
Commander
Surprisingly, no changes here. Though it appears the April update aims to clarify (or alter) how manifest is going to work with Commanders.
Functional Errata and Relevant Rules Changes
While there was a good dozen functional errata updates on cards, most of these are pretty minor and consequential. Cards like Atalya, Samite Master and Crypt Rats, for instance, are being slightly corrected template-wise regarding the types of mana allowed if you ever have to pay more for their X costs, and Beasts of Bogardan is being brought back in line with its original printing, which means it’ll care about White nontoken permanents.
Yet the only real change to note with this update is that Daru Stinger, who had been made a Human Soldier with the Grand Creature Type Update, is going back to being just a Soldier. It turns out Human plus Amplify equaled accidental power level errata, and people were taking advantage of that.
Also, Renegade Warlord, who was originally a Soldier, then made a Warrior, is now back to being a Soldier, even though Warlord is in his name. Because they said so.
Rules wise, most of the changes deal with adding new set mechanics to the book, and of those most deal with how manifest works. The only real part of note is how manifest will interact with double-faced cards. Unlike Ixidron, whom double-faced cards laugh at since they can’t be turned face down, double-faced cards can be manifested face down. If that’s the case, the game pretty much pretends only the face-down (the front) part exists, so it can’t be flipped or transformed. If a double-faced creature is face down and is turned up by paying its mana cost, then it resumes being a normal double-faced creature and acts per usual.
In effect, ladies and gentlemen, they created a situation where you have a triple-faced card. Bravo, Wizards. Bravo.
The explanations of the non-Commander Banned & Restricted changes can be found here.
The Commander announcement can be found here.
The full list of rules clarifications can be viewed here.