[Update #2]: MTG Arena will be getting the entirety of competitive Pioneer on December 10th, 2024!
[Update]: All of Magic: The Gathering's future cross-over sets will be legal in every format.
If you've been playing Standard for the past couple of weeks you're probably well aware of just how omnipresent the Leyline of Resonance 'combo' decks are. They're fragile and fold to early removal, sure, but if you stumble for even a single turn it's very easy to find yourself getting hit for over 20 damage.
Much like Tibalt's Trickery from a few years back, Leyline of Resonance creates some very boring games where the player using it either wins or loses within a couple of turns - almost like deciding the match with a coinflip. Unsurprisingly, this very quickly put it on Wizards of the Coast's ban radar, though since the set had only just released at the time of the last announcement, they figured they'd give it a little bit more time to see if the meta can self-correct.
That did not happen, and so the MTG Arena team has now decided to employ some drastic measures. As such, once the update arrives later today Leyline of Resonance will be getting banned from best-of-one Standard, as well as suspended in Alchemy while it awaits some sort of a nerf. I can't speak for everyone, but I certainly won't miss it!
It's also worth mentioning that anyone that has copies of Leyline of Resonance will be getting reimbursed in rare wildcards. So if you're reading this before the update has gone live, go craft as many copies of Leyline of Resonance as you can since you're going to get all of your wildcards back. Do be warned, however, that if you log into the game and see the "Layline of Resonance has been banned" message, you're too late and shouldn't craft it.
You can read the full announcement, as well as the exact reasoning that got Leyline of Resonance canned, over at the official website. Enjoy!