How to provide better UX for a list of user consents

I'm working on a UI that requires end user consent to proceed with a sign-up. Thought of using inline checkboxes within the consent statement. As you see below...

enter image description here

I have not come across this method and I doubt weather this improves readability and usability or making it worse. Is there any way I can simplify / improve this?

Notes:

  • Assume that the user persona is a typical user on a typical signup flow
  • This UI is used in achieving GDPR compliance in a user signup process

[Edit] : Came up with two more methods to improve UX, But for a single Purpose, Some of our UX engineers still think the inline method is effective. Any thoughts ?

Option 2: Ideal for 2 purposes... enter image description here

Option 3: Ideal for many purposes... enter image description here

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