Transcriptional activator. Common transcription factor of light, abscisic acid (ABA), and jasmonic acid (JA) signaling pathways. With MYC3 and MYC4, controls additively subsets of JA-dependent responses. In cooperation with MYB2 is involved in the regulation of ABA-inducible genes under drought stress conditions. Can form complexes with all known glucosinolate-related MYBs to regulate glucosinolate biosynthesis. Binds to the MYC recognition site (5'-CACATG-3'), and to the G-box (5'-CACNTG-3') and Z-box (5'-ATACGTGT-3') of promoters. Binds directly to the promoters of the transcription factors PLETHORA1 (PLT1) and PLT2 and represses their expression. Negative regulator of blue light-mediated photomorphogenic growth and blue- and far-red-light regulated gene expression. Activates multiple TIFY/JAZ promoters. Positive regulator of lateral root formation. Regulates sesquiterpene biosynthesis. Subjected to proteasome-dependent proteolysis.