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In the 2022 Canva licensing update, the speaker outlines the dos and don'ts regarding the use of Canva's free and pro content based on its latest license agreement. Key areas covered include photos, icons, illustrations, video, audio, fonts, templates, and pro music. To understand licensing for specific items, users are advised to hover over content and click the info icon in the toolbar. The tutorial emphasizes an overarching rule to keep in mind while creating content on Canva. The presenter, Maria Spear Ollis, highlights the importance of being aware of these guidelines for content creators and online brands.