Morning-phased transcription factor integrating the circadian clock and auxin pathways. Binds to the evening element (EE) of promoters. Does not act within the central clock, but regulates free auxin levels in a time-of-day specific manner. Positively regulates the expression of YUC8 during the day, but has no effect during the night. Negative regulator of freezing tolerance. Circadian-regulation. Peak of transcript abundance near subjective dawn. Down-regulated and strongly decreased amplitude of circadian oscillation upon cold treatment. No effect on the regulation of core clock associated genes, but shorter hypocotyl length and higher freezing tolerance. Rve1 and rve2 double mutant has no alteration in the period or phase of the clock. Rve1, rve2 and rve7 triple mutant has no alteration in the period or phase of the clock. Truncated N-terminus.