Moonlace — ruling 1

Moonlace's effect doesn't wear off.

Moonlace — ruling 2

If Moonlace is cast on a spell that becomes a permanent (a creature spell, an artifact spell, or an enchantment spell), the permanent will enter colorless and will remain colorless until it leaves the battlefield (or until another effect changes its color).

Moonlace : règles, fonctionnement et interactions (MTG)

Moonlace is one of those cards players keep asking about. Here is, in plain words, what its official text says, the rulings published by Wizards of the Coast, and the combos players actually run.

Official card text

Target spell or permanent becomes colorless.

How it works : Moonlace

Original English text — Wizards of the Coast / Scryfall

#1September 25, 2006· Wizards of the Coast
Moonlace's effect doesn't wear off.
No other card is named in this ruling.
#2September 25, 2006· Wizards of the Coast
If Moonlace is cast on a spell that becomes a permanent (a creature spell, an artifact spell, or an enchantment spell), the permanent will enter colorless and will remain colorless until it leaves the battlefield (or until another effect changes its color).
No other card is named in this ruling.