''Traction control will no longer be legal in Formula One racing from the start of next season. The change is just one of a number to the 2008 regulations agreed by the teams and FIA at a meeting of the World Motor Sport Council earlier this week.
Article 9.3 of the newly-revised technical regulations states: “No car may be equipped with a system or device which is capable of preventing the driven wheels from spinning under power or of compensating for excessive throttle demand by the driver. Any device or system which notifies the driver of the onset of wheel spin is not permitted.”
Outlawed in the 1990s, traction control was legalized for the 2001 season when it was felt that sophisticated electronics had made policing the ban impractical. From next season, however, standardized ECUs should make enforcement far easier.
Under other changes agreed, the regulations regarding engine homologation will be relaxed slightly, with teams able to make in-season adjustments to a longer list of components, including fuel injection and exhaust systems.''
From F1 Offical Website
http://www.formula1.com/news/5857.html