Is Transcendent Dragon legal in Standard, Modern, and Commander?

Transcendent Dragon is legal in: Legacy, Vintage, Commander.

Transcendent Dragon

Q: What type of card is Transcendent Dragon?

Transcendent Dragon is a Creature — Dragon. Its oracle text reads: "Flash Flying When this creature enters, if you cast it, counter target spell. If that spell is countered this way, exile it instead of putting it into its owner's graveyard, then you may cast it without paying its mana cost."

Creature — Dragon

Flash

Flying

When this creature enters, if you cast it, counter target spell. If that spell is countered this way, exile it instead of putting it into its owner's graveyard, then you may cast it without paying its mana cost.

Set Tarkir: Dragonstorm Commander

Rarity Rare

Mana Value 6

Artist Diego Gisbert

Collector # 22

Scryfall Gatherer