HTML tags in localization strings

I implemented custom localization strings following Localization – Snipcart Documentation

    Snipcart.api.session.setLanguage('en', {
        mcm: {
          tos_consent: MCM.translations.tos_consent.en,

MCM.translations.tos_consent.en logs in the console to: <strong>text</strong>

Now I am using the custom string inside a template following this example: Order custom fields – Snipcart Documentation

        <payment section="top">
                    <snipcart-checkbox name="agb" required></snipcart-checkbox>
                    <snipcart-label for="agb">{{ $localize('mcm.tos_consent') }}</snipcart-label>

All is working fine with plain text. But as soon as I have HTML tags inside those translation strings, they are rendered as text like <strong>text</strong> for the checkbox label.

The generated markup

<p><input type="checkbox" name="agb" id="agb_d1e81593-20af-4841-bc90-b9fdb4c1963d" class="snipcart-checkbox" required="required"> <label for="agb_d1e81593-20af-4841-bc90-b9fdb4c1963d" class="snipcart-form__label">&lt;strong&gt;text&lt;/strong&gt;</label></p>

How can I render HTML in this situation?
I already tried manually escaping all HTML chars when building the strings but it didn’t help.