Until end of turn, target player can't cast instant or sorcery spells, and that player can't activate abilities that aren't mana abilities. Draw a card.
"I'm too modest a wizard to reveal the full extent of my abilities." —Ertai, wizard adept
2004-10-04
Abeyance does not affect abilities which are not activated, such as static abilities and triggered abilities. It also doesn't stop the declaration of attackers or blockers.
2004-10-04
Abeyance never prevents mana abilities from being activated.
2004-10-04
Abeyance prohibits activated abilities of cards which are not on the battlefield.
2008-08-01
This can't be used as a counterspell. It will have no effect on spells which were on the stack when it was cast, nor on those cast in response to it.