Although internet finance is a great opportunity for overtaking around the corner of financial innovation of China (Shanghai) Pilot Free Trade Zone,the absence of supervision has made its destructiveness increasingly clear and obvious. This paper first makes a typification analysis of main formats and endogenous criminal law risks of internet finance,reflects the boundary of the intervention of existing criminal law in internet finance of China (Shanghai) Pilot Free Trade Zone from the perspectives of legislative system of internet finance,the design logic of legal liability system,the orientation of criminal law regulation and victims' fault,and hereby proposes basic principles and system concept of reasonably regulating internet finance:adhering to prevention & control in advance and administrative supervision,giving priority to civil liabilities in dispute resolution,keeping to the modesty of criminal law,properly shrinking the extent and boundary of the intervention of criminal law,so as to provide legal protection for financial institutional innovation of China (Shanghai) Pilot Free Trade Zone.