Is Galvanic Iteration legal in Standard, Modern, and Commander?

Galvanic Iteration is legal in: Modern, Pioneer, Legacy, Vintage, Commander, Historic.

Galvanic Iteration

Q: What type of card is Galvanic Iteration?

Galvanic Iteration is an Instant. Its oracle text reads: "When you next cast an instant or sorcery spell this turn, copy that spell. You may choose new targets for the copy. Flashback {1}{U}{R} (You may cast this card from your graveyard for its flashback cost. Then exile it.)"