Pre-selected checkbox to subscribe newsletter on sign-up

It's 2020 and I wonder: is it fine to have under the Sign-Up form on a website a pre-selected checkbox so the user subscribes to the newsletter to receive updates?

The thing is:

  • Newsletters still work quite well, and it's a good way to interact with users and potential customers
  • Currently, most people that signs up don't subscribe to the newsletter (the only way to do it would be scrolling until the webpage's footer and enter their email again), so I loose a communication channel there.
  • The newsletter sends veryy occasional updates
  • By showing the pre-select checkbox, the user can still uncheck it (no hidden things happening)

Also, what copy would be the best:

  • "Subscribe to the newsletter"
  • "Receive occasional updates on your email"
  • ... other?
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