Since this morning Google Adsense have Updated Terms and Conditions. If you tried to login Google Adsense, you'll find page that descript about Updated Terms and Conditions.

Most of the change to Term and Conditions are about two categories:

• future products and features. Specifically, one of the main changes is that the terms anticipate future products that may become available in other advertising formats and mediums, for example Gadget Ads. As we look forward to monetizing more online and offline content, we've re-worded some portions of the terms to make them applicable across a broader array of media and formats -- anticipating, for example, that future products may be priced, paid, or managed differently than current ones.
• privacy requirements. . Specific requirements that make it necessary for publishers to post and abide by a transparent privacy policy that users see. According to this policy, publishers must notify their users of the use of cookies and/or web beacons to collect data in the ad serving process. This change relates to advertisers' use of innovative products and features like Gadget Ads and other offerings in the future.

however; it's about small changes throughout, so it's a good idea for you to review them thoroughly before accepting.