Is Chilling Grasp legal in Standard, Modern, and Commander?

Chilling Grasp is legal in: Modern, Pioneer, Legacy, Vintage, Commander.

What type of card is Chilling Grasp?

Chilling Grasp is an Instant. Its oracle text reads: "Tap up to two target creatures. Those creatures don't untap during their controller's next untap step. Madness {3}{U} (If you discard this card, discard it into exile. When you do, cast it for its madness cost or put it into your graveyard.)"