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Hemp cultivation is becoming increasingly common worldwide, although it still raises many concerns. These plants are gaining popularity due to their versatility and the ability to use virtually every part of them in almost all economic branches. Hemp products are sought after and appreciated by consumers. The cultivation of hemp does not place a large burden on the environment. All this makes hemp an ideal plant in terms of land use, which is closely related to the idea of sustainable development. This paper describes the legal aspects of hemp cultivation in Europe and briefly presents its breeding and cultivation. The possibilities of their versatile use are presented, with particular reference to biofuel production. Moreover, the suitability for ecological cultivation, description of the economic and social aspects of industrial hemp cultivation, as well as future outlooks, are also described. [ABSTRACT FROM AUTHOR]